Section 1069 Additional persons treated as participators

(1)

In sections 1064 to 1067 any reference to a participator includes an associate of a participator.

(2)

If a company (“A”) controls another company (“B”), a person who—

(a)

is a participator in A, or

(b)

is an associate of a participator in A,

is treated for the purposes of sections 1064 to 1067 as being a participator in B as well.

(3)

In this section the following expressions have the same meaning as in Part 10 (close companies)—

(a)

“associate” (see section 448),

(b)

“control” (see sections 450 and 451), and

(c)

“participator” (see section 454).

Notes on Part 23

C1: Pt. 23 applied (with modifications) by 2003 c. 1, s. 554AC(3) (as inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2)