Point in time view as at 31/01/2013.
Corporation Tax Act 2010, Section 397 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section defines what a company being owned by, or a member of, a consortium means for the purposes of the sales of lessors Chapters.
(2)A company is owned by a consortium if—
(a)it is not a qualifying 75% subsidiary of any company,
(b)at least 75% of its ordinary share capital is beneficially owned between them by other companies, and
(c)none of those other companies owns less than 5% of that capital.
(3)Those other companies are the members of the consortium.
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