Commentary

A1.156 Control and connected persons

Administration and compliance

A1.156 Control and connected persons

A1.156 Control and connected persons

These definitions do not apply if the context otherwise requires.

Control

'Control', for the purposes of close companies (see D3.103) and of capital gains, is construed in accordance with CTA 2010, ss 450 and 451: see D3.1031. A different meaning is applied in various income tax and corporation tax provisions: for these purposes:

  1.  

    (i)     in relation to a body corporate it means the power of a person to secure:

    1.  

      (a)     by means of the holding of shares or the possession of voting power in or in relation to that or any other body corporate; or

    2.  

      (b)     by virtue of any powers conferred by the articles of association or other documents regulating that or any other body corporate,

  2.  

    that the affairs of the first mentioned body corporate are conducted in accordance with the wishes of that person; and

  3.  

    (ii)     in relation to a partnership, means the right to a share of more than one half of the assets, or of more than one half of the income, of the

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