Interpretation
3.—(1) For the purposes of these Regulations—
(a)“Schedule 15” means Schedule 15 of the Finance Act 2009 (tax treatment of financing costs and income);
(b)a company is an “immediate parent” of another company if it directly owns more than 50% of the ordinary share capital of that other company;
(c)a company is an “ultimate UK parent” in relation to a group if it—
(i)is a member of the group,
(ii)is a corporate entity,
(iii)is not a subsidiary (whether direct or indirect) of a corporate entity resident in the United Kingdom,
(iv)is not a collective investment scheme, and
(v)is a company to which Part 3 and Part 4 of Schedule 15 apply.
(2) In this regulation, “collective investment scheme” has the meaning given by paragraph 80(2) of Schedule 15.