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11In section 293 of the Taxes Act 1988 (qualifying companies), for subsection (8) substitute—
“(8)Subject to section 304A, the company must not at any time in the relevant period—
(a)control (whether on its own or together with any person connected with it) any company which is not a qualifying subsidiary, or
(b)be—
(i)a 51% subsidiary of another company, or
(ii)under the control of another company (or of another company and any other person connected with that other company), without being a 51% subsidiary of that other company,
and no arrangements must be in existence at any time in that period by virtue of which the company could fall within paragraph (a) or (b) above (whether during that period or otherwise).
(8AA)In subsection (8)(b) above “control” has the meaning given by section 840.”.
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