[F1Aggregation of holdings of group companiesU.K.
Textual Amendments
F1Sch. 7AC inserted (with effect in accordance with s. 44(3)(4) of the amending Act) by Finance Act 2002 (c. 23), Sch. 8 para. 1
9(1)For the purposes of paragraph 7 (the substantial shareholding requirement) a company that is a member of a group is treated—U.K.
(a)as holding any shares or interest in shares held by any other company in the group, and
(b)as having the same entitlement as any such company to any rights enjoyed by virtue of holding shares or an interest in shares.
(2)Sub-paragraph (1) is subject to paragraph 17(4) (exclusion of aggregation in case of assets of long-term insurance fund of insurance company).]