SCHEDULES

SCHEDULE 4Approved CSOP schemes

Part 8Supplementary provisions

Meaning of “associated company”

35

1

For the purposes of the CSOP code one company is an “associated company” of another company at a given time if, at that time or at any other time within one year previously—

a

one has control of the other, or

b

both are under the control of the same person or persons.

2

For the purposes of sub-paragraph (1) the question whether a person controls a company is to be determined in accordance with section 416(2) to (6) of ICTA.