20(1)The issuing company is not a qualifying issuing company in relation to the relevant shares if, at any time during the qualification period relating to those shares, it has a subsidiary which is not a qualifying subsidiary.U.K.
[F1(2)In this paragraph “subsidiary” means any company which the company controls, either on its own or together with any person connected with it.
(3)For the purpose of sub-paragraph (2), the question whether a person controls a company shall be determined in accordance with [F2sections 450 and 451 of CTA 2010].]
Textual Amendments
F1Sch. 15 para. 20(2)(3) substituted (22.7.2004) for Sch. 15 para. 20(2) (with effect in accordance with Sch. 20 para. 15 of the amending Act) by Finance Act 2004 (c. 12), Sch. 20 para. 4(2)
F2Words in Sch. 15 para. 20(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 315(5) (with Sch. 2)