10(1)A company that has one or more subsidiaries is not a qualifying company unless every subsidiary of the company is a qualifying subsidiary (see paragraph 11).U.K.
[F1(2)In this paragraph “subsidiary” means any company which the company controls, either on its own or together with any person connected with it.
(3)For the purpose of sub-paragraph (2), the question whether a person controls a company is to be determined in accordance with [F2sections 450 and 451 of CTA 2010] (“control” in the context of close companies).]
Textual Amendments
F1Sch. 5 para. 10(2)(3) substituted for Sch. 5 para. 10(2) (with effect in accordance with s. 96(6) of the amending Act) by Finance Act 2004 (c. 12), s. 96(3)
F2Words in Sch. 5 para. 10(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. 399(2) (with Sch. 2)