Part 5Group relief
Chapter 7Miscellaneous provisions and interpretation of Part
Interpretation
185“Trading company” and “holding company”
(1)
In this Part “trading company” means a company the business of which consists wholly or mainly in the carrying on of a trade or trades.
(2)
In this Part “holding company” means a company the business of which consists wholly or mainly in the holding of shares or securities of companies that—
(a)
are its 90% subsidiaries (see section 151), and
(b)
are trading companies.