# Finance Act 2000, Paragraph 127

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

(1) For the purposes of the provisions of this Schedule relating to group plans, each joint owner of a jointly owned company is treated as controlling—
(a) the jointly owned company, and
(b) any company controlled by that company.
This paragraph does not apply for the purposes of paragraph 61(b) (requirement that plan shares are in a company not under another company’s control).
(2) A “jointly owned company” means a company—
(a) of which 50% of the issued share capital is owned by one person and 50% by another, and
(b) which is not controlled by any one person.
(3) A jointly owned company may not be a participating company in more than one group plan.
(4) A company controlled by a jointly owned company may not—
(a) be a participating company in more than one group plan, or
(b) if the jointly owned company or any other company controlled by it is a participating company in a group plan, be a participating company in a different group plan.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/8/paragraph/127 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-8/paragraph-127
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.