SCHEDULES

SCHEDULE 22 Tonnage tax

Part XII Groups, mergers and related matters

Companies treated as controlled by an individual

117

1

For the purposes of this Schedule an individual is treated as controlling any company that is controlled—

a

by him alone, or

b

by him together with one or more associates of his, or

c

subject to sub-paragraph (2), by any associate of his, with or without any other such associates.

2

An individual shall not be treated as controlling a company by virtue of sub-paragraph (1)(c) if he does not have any significant influence over the affairs of the company in question.