Capital allowances
(1) For the purposes of the allowances and charges provided for by sections 307 and 308, the trade of the society concerned shall not be treated as permanently discontinued and the trade of the successor company shall not be treated as a new trade set up and commenced by the successor company.
(2) There shall be made to or on the successor company in accordance with sections 307 and 308 all such allowances and charges as would have been made to or on the society if the society had continued to carry on the trade, and the amount of any such allowance or charge shall be computed as if the successor company had been carrying on the trade since the society began to do so and as if everything done to or by the society had been done to or by the successor company.
(3) The conversion of the society into the successor company shall not be treated as giving rise to any such allowance or charge.
Financial assets
(1) In this paragraph -
"financial assets" mea
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