# The Controlled Foreign Companies (Excluded Countries) (Amendment) Regulations 2005, Regulation 5: Amendment of regulation 7


(1) Amend regulation 7 (interpretation of regulations 5 and 6) as follows.
(2) After paragraph (1) insert—
“(1A) For the purposes of regulation 5(2B) a company (“C”) is capable of exercising control over another entity—
(a) where C is entitled to a share of more than one half of the assets, or more than one half of the income of the entity; or
(b) where, if the entity were a company and C were resident in the United Kingdom, C would be treated as having control of it for the purposes of Chapter 4 of Part 17 of the Taxes Act (tax avoidance: controlled foreign companies).”.

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Source: https://www.legislation.gov.uk/uksi/2005/185/regulation/5 (the official version)
Page: https://openlegislation.uk/controlled-foreign-companies-excluded-countries-amendment-regulations-2005/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.