{
  "url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-11/paragraph-37",
  "json_url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013/schedule-11/paragraph-37.json",
  "legislation": "asp/2013/11",
  "legislation_title": "Land and Buildings Transaction Tax (Scotland) Act 2013",
  "legislation_url": "https://openlegislation.uk/land-and-buildings-transaction-tax-scotland-act-2013",
  "path": "schedule/11/paragraph/37",
  "kind": "paragraph",
  "number": "37",
  "heading": null,
  "text": "A company (A) is the 75% subsidiary of another company (B) if B—\n(a) is beneficial owner of not less than 75% of the ordinary share capital of A,\n(b) is beneficially entitled to not less than 75% of any profits available for distribution to equity holders of A, and\n(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.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 11 para. 37 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/asp/2013/11/schedule/11/paragraph/37",
    "retrieved_at": "2026-10-29T20:14:25.082177+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."
}