Part 7Employment income: income and exemptions relating to securities
F1Chapter 4AShares in research institution spin-out companies
Supplementary
459Transfer of intellectual property by controlled company
(1)
For the purposes of this Chapter where a research institution has control of a company, a transfer of intellectual property from the company is to be treated as a transfer from the research institution.
(2)
For the purposes of this Chapter where two or more research institutions together have control of a company, a transfer of intellectual property from the company is to be treated as a transfer from those research institutions.
(3)
In this section “control” means control within the meaning F2given by sections 450 and 451 of CTA 2010.