Section 58 Section 57: meaning of “relevant entity”

(1)

In section 57 “relevant entity” means—

(a)

a company, or

(b)

an entity the shares or other interests in which are listed on a recognised stock exchange and are sufficiently widely held.

(2)

Shares or other interests in an entity are “sufficiently widely held” if no participator in the entity holds more than 10% by value of all the shares or other interests in the entity.

(3)

The following are not relevant entities—

(a)

the Crown;

(b)

a Minister of the Crown;

(c)

a government department;

(d)

a Northern Ireland department;

(e)

a foreign sovereign power.

(4)

In this section—

(a)

“participator” has the meaning given by section 454 of CTA 2010;

(b)

“recognised stock exchange” has the meaning given by section 1137 of CTA 2010;

(c)

the reference to shares or other interests being listed on a recognised stock exchange is to be read in accordance with section 1137 of CTA 2010.

(5)

For the meaning of “company” see section 72.