SCHEDULE 7AC Exemptions for Disposals by Companies with Substantial Shareholding | Part 4 | [ Interpretation] | Taxation Of Chargeable Gains Act 1992 C12

[Part 4 Interpretation]

Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[Part 4 Interpretation]

[Meaning of “company”, “group” and related expressions

(1) In this Schedule—

(a) “company” has the meaning given by section 170(9); and

(b) references to a group, or to membership of a group, shall be construed in accordance with the provisions of section 170 read as if “51 per cent” were substituted for “75 per cent”.

(2) References in this Schedule to a “subgroup” are to companies that would form a group but for the fact that one of them is a 51% subsidiary of another company.

(3) In this Schedule “holding company”—

(a) in relation to a group, means the company described in section 170 as the principal company of the group;

(b) in relation to a subgroup, means a company that would be the holding company of a group but for being a 51% subsidiary of another company.

(4) In this Schedule “51% subsidiary” has the meaning given by [Chapter 3 of Part 24 of CTA 2010].

In applying [that Chapter] for the purposes of this Schedule, any share capital of a [registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014] shall be treated as ordinary share capital.

(5)