[F117(1)For the purposes of paragraph 16 a person holds an interest in a company if—U.K.
(a)the person has, or is entitled to acquire, share capital or voting rights in the company,
(b)the person has, or is entitled to acquire, a right to receive or participate in distributions of the company,
(c)the person is entitled to secure that income or assets (whether present or future) of the company will be applied directly or indirectly for the person's benefit, or
(d)the person, either alone or together with other persons, has control of the company.
(2)In sub-paragraph (1) references to a person being entitled to do anything apply where a person—
(a)is currently entitled to do it at a future date, or
(b)will at a future date be entitled to do it.
(3)In sub-paragraph (1) “control” has the meaning given by [F2sections 450 and 451 of the Corporation Tax Act 2010].]
Textual Amendments
F1Sch. 29A inserted (retrospective to 6.4.2006) by Finance Act 2006 (c. 25), s. 158(2), Sch. 21 para. 13
F2Words in Sch. 29A para. 17(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 431(2) (with Sch. 2)