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Paragraph 20 F1F2

(1)

A relevant body is treated as meeting a section 237A condition at the section 237A(2) relevant time if any of Conditions A to C is met.

(2)

Condition A is that—

(a)

a person met the section 237A condition at a time when the person was a promoter, and

(b)

the person controls or has significant influence over the relevant body at the section 237A(2) relevant time.

(3)

Condition B is that—

(a)

a person met the section 237A condition at a time when the person controlled or had significant influence over the relevant body,

(b)

the relevant body was a promoter at that time, and

(c)

the person controls or has significant influence over the relevant body at the section 237A(2) relevant time.

(4)

Condition C is that—

(a)

two or more persons together controlled or had significant influence over the relevant body at a time when one of those persons met the section 237A condition,

(b)

the relevant body was a promoter at that time, and

(c)

those persons together control or have significant influence over the relevant body at the section 237A(2) relevant time.

(5)

Sub-paragraph (1) does not apply where the person referred to in sub-paragraph (2)(a), (3)(a), or (4)(a) as meeting a section 237A condition is an individual.

(6)

For the purposes of sub-paragraph (2) it does not matter whether the relevant body existed at the time referred to in sub-paragraph (2)(a).

Annotations

Textual amendments

F1

Sch. 34A inserted (15.9.2016) by Finance Act 2016 (c. 24), s. 160(5)

F2

Sch. 34A paras. 20-22 and cross-headings substituted (with effect in accordance with s. 24(6) of the amending Act) by Finance Act 2017 (c. 10), s. 24(3)