Section 809M of ITA 2007 (remittance basis: meaning of “relevant person”) is amended as follows.

In subsection (2)(f), insert at the end “ or a company which is a 51% subsidiary of such a company, ”.

In subsection (3)(ca), for “Act),” substitute “ Act) and, in relation to a company that would be a close company if it were resident in the United Kingdom, means a person who would be such a participator if it were a close company, ”.

The amendments made by this section are treated as having come into force on 6 April 2010.