Taxation (International and Other Provisions) Act 2010

339 Meaning of “ultimate parent” U.K.

(1) For the purposes of this Part, “ultimate parent”, in relation to a group, means an entity that—

(a) is a member of the group,

[F1 (b) is either—

(i) a corporate entity that is [F2 neither] a limited liability partnership in relation to which section 1273(1) of CTA 2009 (limited liability partnerships) applies [F3 nor an entity formed under the law of a territory outside the United Kingdom which would be a partnership if formed under the law of any part of the United Kingdom ] , or

(ii) a relevant non-corporate entity,

(c) is not a collective investment scheme F4 ..., and

(d) is not a subsidiary (whether direct or indirect) of an entity that meets each of the conditions in paragraphs (a) to (c).]

(2) In this section “collective investment scheme” has the meaning given by section 235 of FISMA 2000.

Textual Amendments

F1 S. 339(1)(b)-(d) substituted (retrospectively) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 paras. 30, 36(1)

F2 Word in s. 339(1)(b)(i) substituted (with effect in accordance with Sch. 5 para. 22(2) of the amending Act) by Finance Act 2012 (c. 14), Sch. 5 para. 16(2)(a)

F3 Words in s. 339(1)(b)(i) inserted (with effect in accordance with Sch. 5 para. 22(2) of the amending Act) by Finance Act 2012 (c. 14), Sch. 5 para. 16(2)(b)

F4 Words in s. 339(1)(c) omitted (with effect in accordance with Sch. 5 para. 22(2) of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 5 para. 16(3)