Related Commentary  Related HMRC Manuals

1155(1)  For the purposes of this Chapter ordinary share capital is owned indirectly by a body corporate if it is owned through another body corporate or other bodies corporate.

1155(2)  References in this Chapter to ownership through a body corporate are to be read in accordance with subsections (3) and (4).

1155(3)  Suppose that 3 or more bodies corporate are ordered in a series such that each body in the series (other than the last) owns ordinary share capital of the body immediately below it in the series.

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