Aggregation of losses: unabsorbed losses reduced proportionately on retirement or death, carried to next year for unincorporated bodies.

Where a participant in an unincorporated body retires or dies, the unabsorbed current loss from ordinary sources for the financial year ending on that date must be reduced proportionately to the departing participant's share and that reduced amount shall be the unabsorbed preceding year loss for the immediately following financial year; the same proportionate reduction and treatment apply to unabsorbed current loss from special sources.

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