SCHEDULES

SCHEDULE 23Corporation tax relief for employee share acquisition

Part 5Supplementary provisions

Meaning of “group company” and “parent company”

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For the purposes of this Schedule—

(a)

a company is a “group company”, in relation to another company, if they are members of the same group,

(b)

two companies are members of the same group if, and only if, one is a 51% subsidiary of the other or both are 51% subsidiaries of a third company, and

(c)

a company is a “parent company” in relation to another company if that other is its 51% subsidiary.