This section has no associated Explanatory Notes
232U.K.In section 125(6) (shares in close company transferring assets at an undervalue)—
(a)in the definition of “associate” for “section 417 of the Taxes Act” substitute “ section 448 of CTA 2010 ”, and
(b)in the definition of “participator” for “section 417 of the Taxes Act” substitute “ section 454 of CTA 2010 ”.