Taxes Consolidation Act, 1997 (Number 39 of 1997)
688 Treatment of group relief.
(1) In this section, “claimant company” and “surrendering company” have the meanings respectively assigned to them by section 411.
(2) On a claim for group relief made by a claimant company in relation to a surrendering company, group relief shall not be allowed against any petroleum profits of the claimant company except to the extent that the claim relates to—
(a) a loss incurred by the surrendering company in a petroleum or mining trade, or
(b) charges on income paid, other than to a connected person, by the surrendering company which consist of payments made wholly and exclusively for the purposes of such a trade,
and group relief in respect of any such loss incurred by the surrendering company, or in respect of any charge on income paid by the surrendering company which is a payment made wholly and exclusively for the purposes of the petroleum or mining trade, shall not be allowed against any profits of the claimant company other than its petroleum profits.