Finance Act 2000

Minor definitions

129 (1) In this Schedule—

• “approved employee share ownership plan” means an employee share ownership plan approved under this Schedule;

• “approved profit sharing scheme” means a profit sharing scheme approved under Schedule 9 to the Taxes Act 1988;

• “articles of association”, in relation to a company, includes any other written agreement between the shareholders of the company;

• “company” means a body corporate;

• “control”, unless otherwise indicated, has the same meaning as in section 840 of the Taxes Act 1988;

• “foreign cash dividend” means a cash dividend paid in respect of plan shares in a company not resident in the United Kingdom;

• “group of companies” means a company and any other companies of which it has control, and “group company” has a corresponding meaning;

• “ordinary share capital” has the meaning given in section 832(1) of the Taxes Act 1988;

• “participant’s plan shares”, in relation to an employee share ownership plan, means plan shares that have been awarded to an individual participant;

• “PAYE obligations” means obligations of any person under—

  (a)

  sections 203 to 203L of the Taxes Act 1988, or

  (b)

  regulations under section 203 of that Act;

• “plan shares”, in relation to a plan, means—

  (a)

  free, partnership or matching shares that have been awarded to participants under the plan,

  (b)

  dividend shares that have been acquired on behalf of participants under the plan, and

  (c)

  shares in relation to which paragraph 115(5) applies (company reconstructions: new shares)),

  that remain subject to the plan;

• “qualifying corporate bond” has the meaning given by section 117 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992;

• “tax year” means a year of assessment.

(2) Section 839 of the Taxes Act 1988 (connected persons) applies for the purposes of this Schedule.

(3) For the purposes of this Schedule references to “shares” include fractions of shares forming part of the share capital of a company registered in a foreign country the law of which recognises such fractions.

(4) For the purposes of this Schedule a company is a member of a consortium owning another company if it is one of a number of companies—

(a) which between them beneficially own not less than three-quarters of the other company’s ordinary share capital, and

(b) each of which beneficially owns not less than one-twentieth of that capital.