Section 1061 — Corporation Tax Act 2010: Associated persons: personal representatives

Associated persons: personal representatives 1061 1 If shares in a company are comprised in the estate of a person who has died then, in relation to the company—

a the deceased's personal representatives are associates of any person who is or may become beneficially entitled to a significant interest in the shares, and b any such person is an associate of the personal representatives.

2 For the purposes of subsection (1) a person's interest is significant if its value is greater than 5% of the value of all the property comprised in the estate concerned, excluding any property in which the person is not and cannot become beneficially entitled to an interest.