# Taxation of Chargeable Gains Act 1992, Paragraph 5


P passes the shareholding test in relation to a joint venture company if, throughout the relevant period, the sum of the percentages given by paragraphs (a) and (b) is at least 5%—
(a) the percentage of the ordinary share capital of the joint venture company that is owned directly by P, and
(b) P's indirect shareholding percentage (see paragraph 6).

---
Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/7ZA/paragraph/5 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7ZA/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.