Section 1080 Meaning of “relevant company”

(1)

This section gives the meaning of “relevant company” in this Chapter.

(2)

In the case of a distribution falling within section 1076(a) the relevant companies are—

(a)

the distributing company, and

(b)

each subsidiary whose shares are transferred as mentioned in section 1076(a).

(3)

In the case of a distribution falling within section 1077(1), the relevant companies are—

(a)

the distributing company,

(b)

each transferee company mentioned in section 1077(1)(a), and

(c)

each subsidiary whose shares are transferred as mentioned in section 1077(1)(a)(ii).

(4)

In the case of a distribution falling within section 1078(1), the relevant companies are—

(a)

the distributing company, and

(b)

each transferee company mentioned in section 1078(1)(a).

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)