Section 105A Meaning of related company.F1
United Kingdom
In this Act a ’related company’, in relation to an institution or the parent undertaking of an institution, means a body corporate (other than a subsidiary undertaking) in which the institution or parent undertaking holds a qualifying capital interest.
A qualifying capital interest means an interest in relevant shares of the body corporate which the institution or F3parent undertaking holds on a long-term basis for the purpose of securing a contribution to its own activities by the exercise of control or influence arising from that interest.
Relevant shares means shares comprised in the equity share capital of the body corporate of a class carrying rights to vote in all circumstances at general meetings of the body.
A holding of 20 per cent. or more of the nominal value of the relevant shares of a body corporate shall be presumed to be a qualifying capital interest unless the contrary is shown.
In this paragraph “equity share capital” has the same meaning as in the Companies Act 1985 and the Companies (Northern Ireland) Order 1986.
Annotations
Textual amendments
- F1
S. 105A inserted by Companies Act 1989 (c. 40, SIF 27), s. 23, Sch. 10 para. 37(3)
- F2
S. 105A(1), substituted (1.1.1993) by S.I. 1992/3218, reg. 44(1) (with savings in reg. 46(a)).
- F3
Words in s. 105A(2) substituted (1.1.1993) by S.I. 1992/3218, reg. 44(2) (with savings in reg. 46(a)).
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(d)
Act continued (with modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9(1), Sch. 1 Pt. 1; S.I. 2001/3538 (as amended (1.4.2013) by S.I. 2013/472, arts. 1(1), 3, Sch. 2 para. 56(h)(i)); and specified provisions of Act applied, extended and amended (1.4.2003) so far as still in force by 2001 c. 16, ss. 50, 52-54, 57(1)(j)(4), 68, 138(2), Sch. 1 para. 43, Sch. 2 para. 16(2)(d); S.I. 2003/708, art. 2