# Finance Act 2000, Paragraph 7

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

(1) In Part II of Schedule 25 (exempt activities) amend paragraph 6 as follows.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8) In sub-paragraph (5) (interpretation of sub-paragraphs (3) to (4B)) after “a reference to a trading company" insert
“to which sub-paragraph (5ZA) or (5ZB) below applies.
(5ZA) This sub-paragraph applies to a trading company”.
(9) After sub-paragraph (5ZA) insert—
“(5ZB) This sub-paragraph applies to a trading company if—
(a) it is a controlled foreign company by virtue of subsection (1A) of section 747; and
(b) the person who satisfies the requirement in paragraph (b) of that subsection in relation to the company also controls the holding company or superior holding company.”
(10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/31/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-31/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.