[F1719A Other definitionsU.K.
This section has no associated Explanatory Notes
In this Chapter—
“closely-held company” means—
(a)a close company for the purposes of the Corporation Tax Acts (see Part 10 of CTA 2010), or
(b)a company that would be a close company if section 442(a) of CTA 2010 were ignored (non-UK resident company not to be treated as close);
“nominee”, in relation to an individual, means a person—
(a)who possesses any rights or powers on behalf of the individual, or
(b)who may be required to exercise any rights or powers on the individual’s direction or behalf;
“participator” is to be construed in accordance with section 454 of CTA 2010.]
Textual Amendments
F1S. 719A inserted (with effect in accordance with s. 22(10) of the amending Act) by Finance (No. 2) Act 2024 (c. 12), s. 22(6)