Part 4Transfer pricing

CHAPTER 2Key interpretative provisions

“Direct participation” in management, control or capital of a person

157Direct participation

(1)

Subsection (2) applies for the purposes of—

(a)

this Part,

(b)

in Part 2, section 132(7), F1...

(c)

in Part 5, section 219(2) F2, F3...

(d)

in Part 6A, section 259NB(4) F4, F5... F6, and

(e)

in Part 10, section 463(4)F7...

F7(f)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

A person is directly participating in the management, control or capital of another person at a particular time if (and only if) that other person is at that time—

(a)

a body corporate or a firm, and

(b)

controlled by the first person.