Section HM 16 — Income Tax Act 2007: Associates combined

HM 16 Associates combined For the purposes of sections HM 14 and HM 15 , if a person is associated with an investor, the person and the investor are treated as 1 person, but only if both the person and the investor hold an investor interest of 5% or more. Section HM 21(5) overrides this section. Defined in this Act: associated person , investor , investor interest Compare: 2007 No 97 s HL 9(6) Section HM 16: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).