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HA 35: Period of grace following revocation of election
or “Time given to fix issues when a company loses its qualifying status”
You could also call this:

“Grace period for making a new election after a joint decision is cancelled for a qualifying company”

If you are a shareholder in a qualifying company, sometimes you might make a decision together with other shareholders. This decision is called a joint election. If something happens that cancels this joint election, as described in section HA 33, you don’t need to worry right away. Your company can still be a qualifying company if you make a new election within a certain time. This time period is explained in section HA 34(1) or HA 35(2) and (3). The new election needs to cover all the shares in the company. If you do this in time, your company can keep its status as a qualifying company.

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Next up: HA 37: Period of grace for new shareholder

or “New shareholders have 63 days to meet qualifying company requirements”
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Part H Taxation of certain entities
Qualifying companies (QC)

HA 36Period of grace following revocation of joint election

  1. This section applies when a company has been a qualifying company, but an election that shareholders have made jointly has been revoked through an event described in section HA 33.

  2. The company’s status as a qualifying company does not end if, within the relevant period in section HA 34(1) or HA 35(2) and (3), an election relating to the whole of the relevant shareholding is made.

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