94(1)For the purposes of the SIP code one company is an “associated company” of another company at a given time if—U.K.
(a)one has control of the other, or
(b)both are under the control of the same person or persons.
(2)Sub-paragraph (1) does not, however, apply for the purposes of paragraph 29 (prohibited shares).
(3)For the purposes of sub-paragraph (1) the question whether a person controls a company is to be determined in accordance with [F1sections 450 and 451 of CTA 2010].
Textual Amendments
F1Words in Sch. 2 para. 94(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 396(7) (with Sch. 2)