Part III The issuing company

United Kingdom

1. Introduction
2. The “unquoted status" requirement
3. The independence requirement
4. The “individual-owners" requirement
5. The partnerships and joint ventures requirement
6. The qualifying subsidiaries requirement
7. Meaning of “qualifying subsidiary"
8. The property managing subsidiaries requirement
9. The gross assets requirement
10. The number of employees requirement
11. The trading activities requirement
12. Meaning of “qualifying 90% subsidiary”
13. Ceasing to meet trading activities requirement by reason of administration, receivership, etc.
14. Meaning of “qualifying trade"
15. Excluded activities
16. Excluded activities: wholesale and retail distribution
17. Excluded activities: leasing of ships
18. Excluded activities: receipt of royalties and licence fees
19. Excluded activities: property development
20. Excluded activities: shipbuilding
21. Excluded activities: producing coal
22. Excluded activities: producing steel
23. Excluded activities: hotels and comparable establishments
24. Excluded activities: nursing homes and residential care homes
25. Excluded activities: provision of facilities for another business