Section 837 — Corporation Tax Act 2009: “Major interest”

“Major interest” 837 1 For the purposes of this Chapter, a person has a “major interest” in a company if—

a the person and one other person together have control of that company, and b the rights and powers by means of which they have such control represent, in the case of each of them, at least 40% of the total.

2 The reference in subsection (1)(a) to two persons together having control of a company is to two persons who, taken together, have the power mentioned in section 836.

3 Sections 838 to 840 (rights and powers to be taken into account) apply in relation to the determination for the purposes of this Chapter whether a person has a major interest in a company.