# Taxation of Chargeable Gains Act 1992, Paragraph 10


(1) In determining for the purposes of paragraph 9 the investment that a person (“P”) has in a company, P is to be taken to have all of the rights and interests of any person connected with P.
(2) A person is not to be regarded as connected with another person for the purposes of this paragraph merely as a result of their being parties to a loan that is a normal commercial loan for the purposes of paragraph 9.
(3) Section 286 (connected persons: interpretation) has effect for the purposes of this paragraph—
(a) as if, in subsection (2), for the words from “, or is a relative” to the end there were substituted “ or is a lineal ancestor or lineal descendant of the individual or of the individual's spouse or civil partner ”, and
(b) as if subsections (4) and (8) were omitted.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/1A/paragraph/10 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-1A/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.