# Finance (No. 2) Act 2023, Section 237: Intermediate and partially-owned parent members

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

(1) A member of a multinational group is a partially-owned parent member of that group if—
(a) it is not a permanent establishment, investment entity or the ultimate parent,
(b) it has—
(i) a direct or indirect ownership interest in another member of the group, or
(ii) a permanent establishment, and
(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.
(2) A member of a multinational group is an intermediate parent member of the group if—
(a) it is not a permanent establishment, investment entity, a partially-owned parent member or the ultimate parent, and
(b) it has—
(i) a direct or indirect ownership interest in another member of the group, or
(ii) a permanent establishment.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/237 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-237
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.