Meaning of “participator" and “associate"U.K.
100(1)In this Part “participator”, in relation to a close company, has the meaning it has for the purposes of Part 11 of the Taxes Act 1988 (close companies) (see section 417(1) of that Act), except that it does not include a person by reason only of his being a loan creditor of the company within the meaning of that Part (see section 417(7) to (9) of that Act).
(2)In this Part “associate”, in relation to a participator in a close company, has the meaning given by section 417(3) of that Act.