# Corporation Tax Act 2010, Section 1155: Indirect ownership of ordinary share capital

Extent: E+W+S+N.I.

(1) For the purposes of this Chapter ordinary share capital is owned indirectly by a body corporate if it is owned through another body corporate or other bodies corporate.
(2) References in this Chapter to ownership through a body corporate are to be read in accordance with subsections (3) and (4).
(3) Suppose that 3 or more bodies corporate are ordered in a series such that each body in the series (other than the last) owns ordinary share capital of the body immediately below it in the series.
(4) If B is a body that is below, but not immediately below, A in the series, A is said to own ordinary share capital of B through each body corporate that is between A and B in the series.
(5) Sections 1156 and 1157 contain rules for calculating, for the purposes of this Chapter, the amount of a body corporate's ordinary share capital that another body corporate owns—
(a) indirectly, or
(b) partly directly and partly indirectly.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/1155 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-1155
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.