Part 8Intangible fixed assets

Chapter 12Related parties

Rights and powers to be taken into account

840Partnerships

(1)

The rights and powers of a person as a member of a firm are ignored unless the person has control of or a major interest in the firm.

(2)

Whether a person has control of or a major interest in a firm is determined in accordance with sections 836 to 839 as in relation to a company.

(3)

For the purposes of subsection (2), references in those sections to any other company must be read as including any other firm.