[F161OConditions where intermediary is a companyU.K.
(1)The conditions mentioned in section 61N(9)(b) are that—
(a)the intermediary is not an associated company of the client that falls within subsection (2), and
(b)the worker has a material interest in the intermediary.
(2)An associated company of the client falls within this subsection if it is such a company by reason of the intermediary and the client being under the control—
(a)of the worker, or
(b)of the worker and other persons.
(3)The worker is treated as having a material interest in the intermediary if—
(a)the worker, alone or with one or more associates of the worker, or
(b)an associate of the worker, with or without other associates of the worker,
has a material interest in the intermediary.
(4)For this purpose “material interest” has the meaning given by section 51(4) and (5).
(5)In this section “associated company” has the meaning given by section 449 of CTA 2010.]
Textual Amendments
F1Pt. 2 Ch. 10 inserted (with effect in accordance with Sch. 1 para. 16 of the amending Act) by Finance Act 2017 (c. 10), Sch. 1 para. 9