
Print Options
PrintThe Whole
Act
PrintThe Whole
Part
PrintThe Whole
Cross Heading
PrintThis
Section
only
Changes over time for: Section 236M


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Point in time view as at 26/05/2015.
Changes to legislation:
Taxation of Chargeable Gains Act 1992, Section 236M 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
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
[236MControlling interest requirementU.K.
(1)A settlement meets the controlling interest requirement if—
(a)the trustees—
(i)hold more than 50% of the ordinary share capital of C, and
(ii)have powers of voting on all questions affecting C as a whole which, if exercised, would yield a majority of the votes capable of being exercised on them,
(b)the trustees are entitled to more than 50% of the profits available for distribution to the equity holders of C,
(c)the trustees would be entitled, on a winding up of C, to more than 50% of the assets of C available for distribution to equity holders, and
(d)there are no provisions in any agreement or instrument affecting C’s constitution or management or its shares or securities whereby the condition in paragraph (a), (b) or (c) can cease to be satisfied without the consent of the trustees.
(2)See section 236T for further provision relating to the controlling interest requirement.]
Textual Amendments
Modifications etc. (not altering text)
Back to top