Section 739 — Corporation Tax Act 2010: Meaning of “relevant company” in sections 737 and 738

Meaning of “relevant company” in sections 737 and 738 739 1 A company is a relevant company for the purposes of sections 737 and 738 if it is—

a a company under the control of not more than 5 persons (but see subsection (2)), or b any other company none of whose shares or stocks is—

i included in the official UK list, and ii dealt in on a recognised stock exchange in the United Kingdom regularly or from time to time.

2 A company is not a relevant company for those purposes if it is under the control of one or more companies which are not relevant companies for those purposes.

3 The reference in subsection (1)(b) to shares or stocks does not include debenture stock, preferred shares or preferred stock.

4 Section 450 (meaning of “ control ” for the purposes of Part 10 (close companies)) applies for the purposes of this section.