SCHEDULES
SCHEDULE 25F2Cases where section 747(3) does not apply
F1F1PART III THE PUBLIC QUOTATION CONDITION
Sch. 25 Pt. 3 (paras. 13-15) repealed (with effect in accordance with Sch. 15 para. 10 of the repealing Act) by Finance Act 2007 (c. 11), Sch. 15 para. 8(2), Sch. 27 Pt. 2(15), Note
15
1
References in this Part of this Schedule to shares held by any person include references to any shares the rights or powers attached to which could, for the purposes of section 416, be attributed to that person under subsection (5) of that section.
2
For the purposes of this Part of this Schedule—
a
a person is a principal member of a controlled foreign company if he possesses a percentage of the voting power in the company of more than 5 per cent. and—
i
where there are more than five such persons, if he is one of the five persons who possess the greatest percentages, or
ii
if, because two or more persons possess equal percentage of the voting power in the company, there are no such five persons, he is one of six or more persons (so as to include those two or more who possess the equal percentages) who possess the greatest percentages; and
b
a principal member’s holding consists of the shares which carry the voting power possessed by him.
3
In arriving at the voting power which a person possesses, there shall be attributed to him any voting power which, for the purposes of section 416, would be attributed to him under subsection (5) or (6) of that section.
4
In this Part of this Schedule “shares” include “stock”.
Sch. 25 heading substituted (with effect in accordance with Sch. 17 para. 37 of the amending Act) by Finance Act 1998 (c. 36), Sch. 17 para. 25; S.I. 1998/3173, art. 2