F1SCHEDULE 33APromotion structures
Transfer of promotion business
5
(1)
A falls within this case if—
(a)
there has been a relevant transfer to A, or
(b)
there has been a relevant transfer to a body corporate or partnership that A controls, or has significant influence over.
(2)
For the purposes of sub-paragraph (1) “relevant transfer” means a transfer of—
(a)
the whole of the business of a person carrying on business as a promoter;
(b)
any part of such a business that relates to the promotion of relevant arrangements or relevant proposals;
(c)
property, rights or liabilities of such a business that are connected with the promotion of relevant arrangements or relevant proposals.
(3)
In sub-paragraph (2) “transfer” means any transfer in substance (whether or not the transfer is formal or for consideration, and whether or not the transfer is direct).
(4)
Sub-paragraphs (5) to (11) of paragraph 13A of Schedule 34 (meaning of “control” and “significant influence”) apply to this paragraph as they apply to Part 2 of that Schedule.