{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-397",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-397.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/397",
  "kind": "section",
  "number": "397",
  "heading": "Companies owned by consortiums and members of consortiums",
  "text": "(1) This section defines what a company being owned by, or a member of, a consortium means for the purposes of the sales of lessors Chapters.\n(2) A company is owned by a consortium if—\n(a) it is not a qualifying 75% subsidiary of any company,\n(b) at least 75% of its ordinary share capital is beneficially owned between them by other companies, and\n(c) none of those other companies owns less than 5% of that capital.\n(3) Those other companies are the members of the consortium.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/397",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}