# Land and Buildings Transaction Tax (Scotland) Act 2013, Paragraph 44


A company (A) is the 75% subsidiary of another company (B) if B—
(a) is beneficial owner of not less than 75% of the ordinary share capital of A,
(b) is beneficially entitled to not less than 75% of any profits available for distribution to equity holders of A, and
(c) would be beneficially entitled to not less than 75% of any assets of A available for distribution to its equity holders on a winding-up.

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Source: https://www.legislation.gov.uk/asp/2013/11/schedule/10/paragraph/44 (the official version)
Page: https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-10/paragraph-44
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.