SCHEDULES
SCHEDULE 31 Controlled foreign companies
Other holding companies
7
1
In Part II of Schedule 25 (exempt activities) amend paragraph 6 as follows.
F12
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F13
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F14
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F15
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F16
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F17
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8
In sub-paragraph (5) (interpretation of sub-paragraphs (3) to (4B)) after “a reference to a trading company" insert
to which sub-paragraph (5ZA) or (5ZB) below applies.
5ZA
This sub-paragraph applies to a trading company
9
After sub-paragraph (5ZA) insert—
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.
F210
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F211
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