This section has no associated Explanatory Memorandum
17. In section 301E (disregarded holdings) —U.K.
(a)for subsection (8)(a) substitute—
“(a)manages holdings for its parent undertaking or a controlled undertaking of the parent undertaking;”;
(b)for subsection (8)(c)(ii) substitute—
“(ii)a controlled undertaking of the parent undertaking.”;
(c)after subsection (9) insert—
“(10) For the purposes of this section, an undertaking is a controlled undertaking of the parent undertaking if it is controlled by the parent undertaking; and for this purpose the question of whether one undertaking controls another is to be determined in accordance with section 89J(4) and (5).”.