# Taxation of Chargeable Gains Act 1992, Paragraph 20


(1) The fraction of a company's ordinary share capital that is owned indirectly by company DIC is calculated—
(a) by applying sections 1156 and 1157 of CTA 2010, as read with section 1155 of that Act, and
(b) on the assumptions specified in sub-paragraph (2).
(2) The assumptions are—
(a) where company DIC directly owns more than 50% of the ordinary share capital of a company, company DIC is taken to own the whole of the ordinary share capital of that company;
(b) where a company other than company DIC (“company B”) directly owns more than 50% of the ordinary share capital of another company (“company C”) which is a member of a group of companies of which company DIC is a member, company B is taken to own the whole of the ordinary share capital of company C.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/7ZA/paragraph/20 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7ZA/paragraph-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.