499. European Economic Interest Groupings.

The following rules about European Economic Interest Groupings1 apply for the purposes of charging income tax or charging corporation tax in respect of income2.

Rule 1: A grouping is treated as acting as the agent of its members.

Rule 2: The activities of a grouping are treated as those of its members acting jointly.

Rule 3: Each member of a grouping is treated as having a share of the grouping's property, rights and liabilities.

Rule 4: Any trade carried on by the grouping is treated as carried on in partnership by the members of the grouping3.

For the purposes of Rule 3, a member's