Point in time view as at 17/12/2014.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Meaning of “associate” is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
31(1)In paragraph 28(2) (the “no material interest” requirement) “associate”, in relation to an individual, means—U.K.
(a)any relative or partner of that individual,
(b)the trustee or trustees of any settlement in relation to which that individual, or any of that individual’s relatives (living or dead), is or was a settlor, and
(c)where that individual is interested in any shares or obligations of the company mentioned in paragraph 28(2) 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
(ii)the personal representatives of the deceased,
as the case may be.
(2)Sub-paragraph (1)(c) needs to be read with paragraphs 32 and 33 (which relate to employee benefit trusts and discretionary trusts).
(3)In this paragraph—
“relative” means—
spouse [F1or civil partner], or
parent, child or remoter relation in the direct line;
“settlor” and “settlement” have the same meaning as in [F2Chapter 5 of Part 5 of ITTOIA 2005 (see section 620 of that Act)].
Textual Amendments
F1Words in Sch. 5 para. 31(3) inserted (5.12.2005) by The Tax and Civil Partnership Regulations 2005 (S.I. 2005/3229), regs. 1(1), 173
F2Words in Sch. 5 para. 31(3) substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 620(3) (with Sch. 2)
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