23
In forceWhat is a controlling interest in a corporation?
Part 3Assessment of windfall gains tax
Division 4Grouping provisions
23 What is a controlling interest in a corporation?
For the purposes of this Division, a person has, or persons have together, a controlling interest in a corporation if—
(a)
that person, or those persons acting together, can control the composition of the board of the corporation; or
(b)
that person is, or those persons acting together are, in a position to cast or control the casting of more than 50% of the maximum number of votes that might be cast at a general meeting of the corporation; or
(c)
that person holds, or those persons acting together hold, more than 50% of the issued share capital of the corporation.
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