Valid from 01/04/2009
466Companies connected for an accounting periodU.K.
(1)This section and sections 467 to 471 have effect for the purposes of any provisions of this Part which apply this section (but this does not affect the application of section 1316(1) (meaning of “connected” persons) for other purposes of this Part).
(2)There is a connection between a company (“A”) and another company (“B”) for an accounting period if there is a time in the period when—
(a)A controls B,
(b)B controls A, or
(c)A and B are both controlled by the same person.
(3)But A and B are not taken to be controlled by the same person just because they have been under the control of—
(a)the Crown,
(b)a Minister of the Crown,
(c)a government department,
(d)a Northern Ireland department,
(e)a foreign sovereign power, or
(f)an international organisation.
(4)Subsection (2) is subject to section 468 (connection between companies to be ignored in some circumstances).
(5)For a case where companies are treated as if one controlled the other, see section 383(5) (inter-partnership lending between connected company partners etc).
(6)Section 472 (meaning of “control”) applies for the purposes of this section.