Part 12Real Estate Investment Trusts
Chapter 10Joint ventures
Supplementary
598Chapter 10: supplementary
1
References in this Chapter to an “equity holder”, in relation to a company, are to a person who—
a
holds ordinary shares in the company, or
b
is a loan creditor of the company in relation to a loan other than a normal commercial loan (as defined by section 162).
2
Percentages of beneficial interest for the purposes of this Chapter are to be determined by reference to beneficial entitlement to profits available for distribution to equity holders.
3
References in this Part to property rental business, in relation to a joint venture company or a company which is a member of a joint venture group, do not include the letting of property by the company to (as the case may be)—
a
the venturing company in respect of the company, or
b
a member of the venturing group in respect of the company.