SCHEDULE 31 Controlled foreign companies
Other holding companies
7
(1)
In Part II of Schedule 25 (exempt activities) amend paragraph 6 as follows.
F1(2)
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F1(3)
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F1(4)
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F1(5)
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F1(6)
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F1(7)
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(8)
“to which sub-paragraph (5ZA) or (5ZB) below applies.
(5ZA)
This sub-paragraph applies to a trading company”.
(9)
“(5ZB)
This sub-paragraph applies to a trading company if—
(a)
it is a controlled foreign company by virtue of subsection (1A) of section 747; and
(b)
the person who satisfies the requirement in paragraph (b) of that subsection in relation to the company also controls the holding company or superior holding company.”
F2(10)
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F2(11)
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