(1) Where a company which is or has been a member of a group of companies disposes of an asset which it acquired from another member of the group in the course of a disposal to which section 617 applies, section 555 shall apply in relation to any capital allowances made to the other member (in so far as not taken into account in relation to a disposal of the asset by that other member), and so on as respects previous transfers of the asset between members of the group, but this shall not be taken as affecting the consideration for which an asset is deemed under section 617(1) to be acquired.
(a) Section 556 shall apply in relation to a disposal of an asset by a company which is or has been a member of a group of companies, and which acquired the asset from another member of the group in the course of a disposal to which section 617 applies, as if all members of the group for the time being were the same person, and as if the acquisition or provision of the asset by the group, so ta
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