Part 2 Plant and machinery allowances
F1Chapter 16ARestrictions on allowance buying
Qualifying change
212FWhen company is owned by consortium and consortium members
(1)
This section defines what a company being owned by, or a member of, a consortium means for the purposes of section 212E.
(2)
A company is owned by a consortium if—
(a)
it is not a qualifying 75% subsidiary of another company,
(b)
at least 75% of its ordinary share capital is beneficially owned between them by other companies, and
(c)
none of those other companies owns less than 5% of that capital.
(3)
Those other companies are the members of the consortium.