{
  "url": "https://openlegislation.uk/finance-no-2-act-2023/section-287",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2023/section-287.json",
  "legislation": "ukpga/2023/30",
  "legislation_title": "Finance (No. 2) Act 2023",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2023",
  "path": "section/287",
  "kind": "section",
  "number": "287",
  "heading": "Groups",
  "text": "(1) For the purposes of this Part, the following form a “group”—\n(a) a company that is not a 75% subsidiary of any other company, and\n(b) every company that is a 75% subsidiary—\n(i) of that company,\n(ii) of a 75% subsidiary of that company, or\n(iii) of a 75% subsidiary of a 75% subsidiary of that company, and so on.\n(2) The company in a group that is not a 75% subsidiary of any other company is the “principal member” of the group.\n(3) Every other member of the group is a “subsidiary member”.\n(4) A company (“B”) is a “75% subsidiary” of another company (“A”) if—\n(a) A is beneficially entitled to 75% or more of any profits available for distribution to equity holders of B,\n(b) A would be beneficially entitled to 75% or more of any assets of B available for distribution to its equity holders on a winding-up, or\n(c) at least 75% of B’s ordinary share capital is owned directly or indirectly by A.\n(5) Where as a result of the application of each of paragraphs (a) to (c) of subsection (4) a company would (ignoring this paragraph) be a member of more than one group, that company is to be treated as only being a 75% subsidiary of the first company it is a subsidiary of applying the rules in those paragraphs in order (starting with paragraph (a)).\n(6) If at any time a company that is a generating undertaking becomes a member of a group that is a generating undertaking (including a group that becomes a generating undertaking as a result of that company becoming a member), the final qualifying period of the company ends at that time.\n(7) If at any time a group ceases to be a group as a result of the principal member becoming a 75% subsidiary of another group, the final qualifying period of the group ends at that time.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/30/section/287",
    "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."
}