Section 102 — Inheritance Tax Act 1984: Interpretation.

Interpretation. 102 1 In this Part of this Act— “ close company ” means a company within the meaning of the Corporation Tax Acts which is (or would be if resident in the United Kingdom) a close company for the purposes of those Acts; “ participator ”, in relation to any company, means any person who is (or would be if the company were resident in the United Kingdom) a participator in relation to that company within the meaning given by section 454 of the Corporation Tax Act 2010 , other than a person who would be such a participator by reason only of being a loan creditor; “ qualifying interest in possession ” has the meaning given by section 59 above.

2 References in this Part of this Act to a person’s rights and interests in a company include references to rights and interests in the assets of the company available for distribution among the participators in the event of a winding up or in any other circumstances.