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Changes over time for: Paragraph 24


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 15/09/2016.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Paragraph 24 is up to date with all changes known to be in force on or before 07 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.

Changes to Legislation
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[24(1)For the purposes of this Schedule a company is a “joint venture company” if, and only if—U.K.
(a)it is a trading company or the holding company of a trading group or trading subgroup, and
(b)there are five or fewer persons who between them hold 75% or more of its ordinary share capital.
In determining whether there are five or fewer such persons as are mentioned in paragraph (b), the members of a group are treated as if they were a single company.
(2)For the purposes of this Schedule—
(a)a company that is not a member of a group has a “qualifying shareholding” in a joint venture company if, and only if, it holds shares or an interest in shares in the joint venture company by virtue of which it holds 10% or more of that company’s ordinary share capital;
(b)a company that is a member of a group has a “qualifying shareholding” in a joint venture company if, and only if—
(i)it holds ordinary share capital of the joint venture company, and
(ii)the members of the group between them hold 10% or more of the ordinary share capital of that company.]
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