The joint holding conditionU.K.
This section has no associated Explanatory Memorandum
41.—(1) The joint holding condition is met if—
(a)more than one person is entitled to an interest distribution,
(b)paragraph (2) of regulation 44 (notice relating to payments made under deduction of tax) is not applicable, and
(c)either condition A or B is met.
(2) Condition A is that a qualifying certificate is given by or on behalf of each person beneficially entitled to the interest distribution.
(3) Condition B is that a qualifying certificate is given by or on behalf of one or more (but not all) of the persons beneficially entitled to the interest distribution.