[433 Meaning of “qualifying infrastructure company”]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Key concepts]

[433  Meaning of “qualifying infrastructure company”]

[(1)     For the purposes of this Chapter a company is a “qualifying infrastructure company” throughout an accounting period if—

(a)     it meets the public infrastructure income test for the accounting period (see subsections (2) to (4)),

(b)     it meets the public infrastructure assets test for the accounting period (see subsections (5) to (10)),

(c)     it is fully taxed in the United Kingdom in the accounting period [(see subsections (11) and (12))], and

(d)     it has made an election for the purposes of this section that has effect for the accounting period (see section 434).

(2)     A company meets the public infrastructure income test for an accounting period if all, or all but an insignificant proportion, of its income for the accounting period derives from—

(a)     qualifying infrastructure activities carried on by the company (see sections 436 and 437),

(b)     shares in a qualifying infrastructure company, or

(c)     loan relationships or other financing arrangements to which the only other party is a qualifying infrastructure company.

(3)     A company also meets the public infrastructure income test for an accounting period if it has no income for the period.

(4)     In determining whether the

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