(1)This section defines “associate” for the purposes of section 1151 (valuation: independence requirement).
(2)In relation to an individual, “associate” means—
(a)that individual’s spouse or civil partner or minor child or step-child,
(b)any body corporate of which that individual is a director, and
(c)any employee or partner of that individual.
(3)In relation to a body corporate, “associate” means—
(a)any body corporate of which that body is a director,
(b)any body corporate in the same group as that body, and
(c)any employee or partner of that body or of any body corporate in the same group.
(4)In relation to a partnership that is a legal person under the law by which it is governed, “associate” means—
(a)any body corporate of which that partnership is a director,
(b)any employee of or partner in that partnership, and
(c)any person who is an associate of a partner in that partnership.
(5)In relation to a partnership that is not a legal person under the law by which it is governed, “associate” means any person who is an associate of any of the partners.
(6)In this section, in relation to a limited liability partnership, for “director” read “member”.