SCHEDULES
SCHEDULE 17International movement of capital
Part 2Reporting requirement
Meaning of “reporting body”
5
1
For the purposes of this Schedule a body corporate (“body A”) is a reporting body at any time if, at that time—
a
it is a UK corporate parent, and
b
condition A, B, C or D is met.
2
Condition A is that body A is not controlled by a body corporate resident outside the United Kingdom.
3
Condition B is that—
a
body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”), and
b
no other relevant UK body corporate is controlled by the foreign parent.
4
Condition C is that —
a
body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”),
b
one or more other UK corporate parents are controlled by the foreign parent, and
c
body A is not a party to an arrangement under paragraph 6.
5
Condition D is that—
a
body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”),
b
one or more other UK corporate parents are controlled by the foreign parent, and
c
body A is a party to an arrangement under paragraph 6 and is the nominated reporting body under that arrangement.