157Direct participationU.K.
This section has no associated Explanatory Notes
(1)Subsection (2) applies for the purposes of—
(a)this Part,
(b)in Part 2, section 132(7), and
(c)in Part 5, section 219(2).
(2)A person is directly participating in the management, control or capital of another person at a particular time if (and only if) that other person is at that time—
(a)a body corporate or a firm, and
(b)controlled by the first person.
Modifications etc. (not altering text)
C1S. 157(2) applied (with effect in accordance with s. 116(1) of the amending Act) by Finance Act 2015 (c. 11), s. 106(7)(a)