Paragraph 6

United Kingdom

For the purposes of C1F1sections 403C and 413(7) and paragraphs 2 to F25F above—

(a)

the percentage to which one company is beneficially entitled of any profits available for distribution to the equity holders of another company, and

(b)

the percentage to which one company would be beneficially entitled of any assets of another company on a winding-up,

means the percentage to which the first company is, or would be, so entitled either directly or through another body corporate or other bodies corporate or partly directly and partly through another body corporate or other bodies corporate.

Annotations

Textual amendments

F1: Words in Sch. 18 paras. 1(1), 2(1), 3(1), 4(3)(4), 5A(3)(4), 5C(3)(4), 5D(3)(4), 5E(3)(4), 6 substituted (retrospectively) by Finance Act 2000 (c. 17), s. 100(4)(a)(5)
F2: Words in Sch. 18 para. 6 substituted (with effect in accordance with Sch. 27 para. 6(3)(4) of the amending Act) by Finance Act 2000 (c. 17), Sch. 27 para. 5(6) (with Sch. 27 para. 6(1))

Modifications

C1

See 1990 s.32(12)(b):references to

“section 413(7) to (9)”

and to section 413(7)construed as references to 1990 s.31(4)where Sch.18applies to disposals of shares to employee share ownership trusts.

Notes on Schedule 18

Textual amendments

F1: Sch. 18 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 140, Sch. 3 Pt. 1 (with Sch. 2)