{
  "url": "https://openlegislation.uk/finance-no-2-act-2023/section-237",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2023/section-237.json",
  "legislation": "ukpga/2023/30",
  "legislation_title": "Finance (No. 2) Act 2023",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2023",
  "path": "section/237",
  "kind": "section",
  "number": "237",
  "heading": "Intermediate and partially-owned parent members",
  "text": "(1) A member of a multinational group is a partially-owned parent member of that group if—\n(a) it is not a permanent establishment, investment entity or the ultimate parent,\n(b) it has—\n(i) a direct or indirect ownership interest in another member of the group, or\n(ii) a permanent establishment, and\n(c) more than 20% of the ownership interests that represent an entitlement to a share of the profits of the member are held by persons that are not members of the group.\n(2) A member of a multinational group is an intermediate parent member of the group if—\n(a) it is not a permanent establishment, investment entity, a partially-owned parent member or the ultimate parent, and\n(b) it has—\n(i) a direct or indirect ownership interest in another member of the group, or\n(ii) a permanent establishment.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 237(1)(b) substituted (with effect in accordance with Sch. 8 para. 53(5)-(13) of the amending Act) by Finance Act 2026 (c. 11), Sch. 8 paras. 3(2), 53(5)-(13)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 237(2)(b) substituted (with effect in accordance with Sch. 8 para. 53(5)-(13) of the amending Act) by Finance Act 2026 (c. 11), Sch. 8 paras. 3(3), 53(5)-(13)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/30/section/237",
    "retrieved_at": "2026-10-29T08:52:11.242356+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}