# Corporation Tax Act 2009, Section 1023: Supplementary provision for purposes of section 1022


(1) This section applies for the purposes of section 1022.
(2) An option is a qualifying option if condition 3 in section 1016 would be met in relation to shares acquired pursuant to the option.
(3) There is a takeover of a company when another company (“the acquiring company”) acquires control of it.
(4) The following companies are qualifying companies—
(a) the acquiring company,
(b) a company that, when the takeover occurs, is a parent company of the acquiring company,
(c) a company that, when the takeover occurs, is a member of a consortium that owns the acquiring company,
(d) a company that, when the takeover occurs, is a member of a consortium that owns a parent company of the acquiring company, and
(e) a company within subsection (5).
(5) A company (“company A”) is within this subsection if when the takeover occurs—
(a) the acquiring company or a parent company of the acquiring company is a member of a consortium that owns another company (“company B”), and
(b) company A is—
(i) a member of that consortium or a parent company of a member of that consortium, and
(ii) a member of the same commercial association of companies as company B.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/1023 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-1023
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.