[312E Section 312B: the indirect employee-ownership requirement]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[312E  Section 312B: the indirect employee-ownership requirement]

[(1)     For the purposes of section 312B, a company meets the indirect employee-ownership requirement if—

(a)     a settlement meets the controlling interest requirement in respect of—

(i)     the company, or

(ii)     if the company is a member of a trading group, but not the principal company, that principal company, and

(b)     the settlement meets the all-employee benefit requirement.

(2)     For this purpose—

(a)

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