- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
11(1)A company (“company B”) is a principal company of company A if—
(a)company A is a qualifying 75% subsidiary of company B, and
(b)company B is not a qualifying 75% subsidiary of another company.
(2)There is a relevant change in the relationship between company A and company B (as a principal company) on any day if company A ceases to be a qualifying 75% subsidiary of company B on that day.
(3)A company (“company C”) is a principal company of company A if—
(a)company A is a qualifying 75% subsidiary of company B,
(b)company B is a qualifying 75% subsidiary of company C, and
(c)company C is not a qualifying 75% subsidiary of another company.
(4)There is a relevant change in the relationship between company A and company C (as a principal company) on any day if—
(a)company A ceases to be a qualifying 75% subsidiary of company B on that day, or
(b)company B ceases to be a qualifying 75% subsidiary of company C on that day.
(5)If company C is a qualifying 75% subsidiary of another company (“company D”), company D is a principal company of company A unless company D is a qualifying 75% subsidiary of another company, and so on.
(6)Accordingly, there is a relevant change in the relationship between company A and a principal company of company A on any day if—
(a)in determining which company is a principal company, regard is had to any company which is a qualifying 75% subsidiary of another, and
(b)that company ceases to be a qualifying 75% subsidiary of the other on that day.
(7)This paragraph is supplemented by paragraph 15 (meaning of a qualifying 75% subsidiary).
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: