Meaning of “a qualifying change of ownership” in relation to a companyU.K.
10(1)For the purposes of this Schedule, there is a qualifying change of ownership in relation to a company (“company A”) on any day if there is a relevant change in the relationship on that day between—U.K.
(a)company A, and
(b)a principal company of company A,
but see paragraph 13 for an exception (no qualifying change of ownership in the case of certain intra-group reorganisations).
(2)For the purposes of this Schedule, there is a relevant change in the relationship between company A and a principal company of company A on any day in any of the circumstances in paragraphs 11 and 12 (qualifying 75% subsidiaries and consortium relationships).