[259ND Meaning of “50% investment” and “25% investment”]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[259ND  Meaning of “50% investment” and “25% investment”]

[(1)     Where this section applies for the purposes of determining whether a person has a “50% investment” in another person for the purposes of section 259NB(6), references in this section to X% are to be read as references to 50%.

(2)     Where this section applies for the purposes of determining whether a person has a “25% investment” in another person for the purposes of section 259NC(2), references in this section to X% are to be read as references to 25%.

(3)     A person (“P”) has an X% investment in a company (“C”) if it is reasonable to suppose that—

(a)     P possesses or is entitled to acquire X% or more of the share capital or issued share capital of C,

(b)     P possesses or is entitled to acquire X% or more of the voting power in C, or

(c)     if the whole of C's share capital were disposed of, P would receive (directly or indirectly and whether at the time of disposal or later) X% or more of the proceeds of the disposal.

(4)     A person (“P”) has an X% investment in another person (“Q”)

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