SCHEDULES

SCHEDULE 17International movement of capital

Part 2Reporting requirement

Meaning of “UK corporate parent”

7

In this Schedule “UK corporate parent” means a body corporate that—

a

is resident in the United Kingdom,

b

controls one or more bodies corporate that are not resident in the United Kingdom, and

c

is not controlled by—

i

a body corporate that is resident in the United Kingdom, or

ii

two or more bodies corporate taken together each of which is resident in the United Kingdom.