50(1)In this Schedule “associate”, in relation to a person, means—
(a)any relative or partner of that person,
(b)the trustee or trustees of any settlement in relation to which that person, or any relative of his (living or dead), is or was a settlor, and
(c)where that person is interested in any shares or obligations of a company which are subject to any trust or are part of the estate of a deceased person—
(i)the trustee or trustees of the settlement concerned or, as the case may be, the personal representatives of the deceased, and
(ii)if that person is a company, any other company interested in those shares or obligations.
(2)In sub-paragraph (1)(a) and (b) “relative” means husband or wife, parent or remoter forebear or child or remoter issue.
(3)In sub-paragraph (1)(b) “settlor” and “settlement” have the same meaning as in Chapter 1A of Part 15 of the Taxes Act 1988 (see section 660G(1) and (2)).
Commencement Information
I1Sch. 16 para. 50 in force at 23.1.2003 by S.I. 2003/88, arts. 2, 3