# The Enactment of Extra-Statutory Concessions Order 2017, Article 5: Non-resident or dual resident settlements: meaning of “participator”


(1) Schedule 5 to the Taxation of Chargeable Gains Act 1992 is amended as follows.
(2) In paragraph 2A (settlements created before 17th March 1998) after sub-paragraph (9) insert—
“(9A) For the purposes of sub-paragraphs (8) and (9) above a person is not to be regarded as a participator in a company controlled by the trustees of a settlement where the person has a share or interest in the capital or income of the company solely by virtue of an interest which the person has under the settlement.”.
(3) In paragraph 8 (meaning of “originating”) after sub-paragraph (8) insert—
“(8A) But a person is not to be regarded as a participator in a company controlled by the trustees of a settlement where the person has a share or interest in the capital or income of the company solely because of an interest which the person has under the settlement.”.
(4) In paragraph 9 (qualifying settlements, and commencement) after sub-paragraph (10) insert—
“(10ZA) For the purposes of sub-paragraphs (9) and (10) above a person is not to be regarded as a participator in a company controlled by the trustees of a settlement where the person has a share or interest in the capital or income of the company solely by virtue of an interest which the person has under the settlement.”.

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Source: https://www.legislation.gov.uk/ukdsi/2017/9780111153956/article/5 (the official version)
Page: https://openlegislation.uk/draft-enactment-of-extra-statutory-concessions-order-2017/article-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.