9. For the purposes of paragraph 8(d)(ii), whether a body corporate has control of another body corporate is determined as if sections 450(2) to (4) and 451(1) to (5) of the Corporation Tax Act 2010 M1 applied subject to the following modifications—U.K.
(a)for the words “the greater part” wherever they occur in section 450(3) there were substituted the words “ one-third or more ”;
(b)in section 451(4) [F1and (5)], for the word “may”, there were substituted the word “ must ”; and
(c)in section 451(4) and (5) any reference to an associate of a person is construed as including only a relative of that person (as defined by section 448(2) of the Corporation Tax Act 2010), a partner of that person and a trustee of a settlement (as defined by section 620 of the Income Tax (Trading and Other Income) Act 2005 M2) of which that person is a beneficiary.
Textual Amendments
F1Words in Sch. 2 para. 9(b) inserted (15.9.2017) by The Petroleum and Offshore Gas Storage and Unloading Licensing (Amendment) Regulations 2017 (S.I. 2017/855), regs. 1, 5(3)(b)
Marginal Citations
M22005 c. 5, amended by paragraph 552 of Schedule 1 to the Income Tax Act 2007 (c. 3) and S.I. 2012/964.