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Finance Act 2004

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Changes over time for: Paragraph 6

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Point in time view as at 06/04/2020.

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There are currently no known outstanding effects for the Finance Act 2004, Paragraph 6. Help about Changes to Legislation

6U.K.After paragraph 21 insert—

The property managing subsidiaries requirementU.K.

21A(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 property managing subsidiary which is not a qualifying 90% subsidiary of the issuing company (see paragraph 23(10) and (11)).

(2)Property managing subsidiary” means a qualifying subsidiary of the issuing company whose business consists wholly or mainly in the holding or managing of land or any property deriving its value from land.

(3)In sub-paragraph (2), “land” and “property deriving its value from land” have the same meaning as in section 776 of the Taxes Act 1988..

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