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Taxation (International and Other Provisions) Act 2010

Section 159: Indirect participation: potential direct participant

329.This section provides for a person to be indirectly participating in the management, control or capital of another if that person would be a direct participant in the other (see section 157) were the person to have the rights and powers listed in subsection (3). It is based on section 808B(9) of, and paragraph 4(2) to (6) and (10) of Schedule 28AA to, ICTA and section 85(6) of FA 1999.

330.Subsection (6), which rewrites paragraph 4(6) of Schedule 28AA, serves to clarify that all connected parties must be considered in applying the rule in subsection (3)(e), which rewrites paragraph 4(3)(d) of Schedule 28AA.

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