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Corporation Tax Act 2010
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153Companies owned by consortiums and members of consortiums
This section has no associated Explanatory Notes
(1)For the purposes of this Part a company is owned by a consortium if—
(a)the company is not a 75% subsidiary of any company, and
(b)at least 75% of the company’s ordinary share capital is beneficially owned by other companies each of which beneficially owns at least 5% of that capital.
(2)The other companies each owning at least 5% of the share capital are the members of the consortium for the purposes of this Part.
(3)If—
(a)a trading company is a 90% subsidiary of a holding company and is not a 75% subsidiary of any company apart from the holding company, and
(b)as a result of subsection (1), the holding company is owned by a consortium,
then for the purposes of this Part the trading company is also owned by the consortium.
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