Part 16

Income Tax Acts definitions etc
Chapter 1

Definitions

Meaning of “control”
995
1
This section has effect for the purposes of the provisions of the Income Tax Acts which apply this section.
2
In relation to a body corporate (“company A”), “control” means the power of a person (“P”) to secure—
a
by means of the holding of shares or the possession of voting power in relation to that or any other body corporate, or
b
as a result of any powers conferred by the articles of association or other document regulating that or any other body corporate,
that the affairs of company A are conducted in accordance with P's wishes.
3
In relation to a partnership, “control” means the right to a share of more than half the assets, or of more than half the income, of the partnership.
S. 995 applied by 2003 c. 1, s. 312G(6)(b) (as inserted (with effect in accordance with Sch. 37 para. 8 of the amending Act) by Finance Act 2014 (c. 26), Sch. 37 para. 5)