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Finance Act 2022
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- UK Public General Acts
- 2022 c. 3
- SCHEDULE 2
- PART 6
- Paragraph 40
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This is the original version (as it was originally enacted).
Transfer pricing: participation condition always met for investors in a QAHC etc
40(1)For the purposes of section 147(1) of TIOPA 2010 (basic pre-condition), where the affected persons are—
(a)a QAHC, and
(b)a person with a sufficient connection to the QAHC,
the participation condition in section 148 of that Act is treated as met.
(2)An affected person (“A”) has a sufficient connection to the QAHC if—
(a)A has a relevant interest in the QAHC or in an enhanced class of the QAHC, or
(b)any of the persons with such an interest has a relationship with A such that the participation condition in that section would have been met had the affected persons been A and that person (instead of A and the QAHC).
(3)In this paragraph, and in paragraph 41, “affected person” is to be construed in accordance with Part 4 of that Act.
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