Section 167 — Income Tax Act 2007: Employees, directors and partners

Employees, directors and partners 167 1 An individual is connected with the issuing company if the individual—

a is an employee of—

i the issuing company, ii any subsidiary of the issuing company, or iii a partner of the issuing company or any of its subsidiaries, b is a partner of—

i the issuing company, or ii any subsidiary of the issuing company, or c subject to section 168, is a director of—

i the issuing company, ii any subsidiary of the issuing company, or iii a company which is a partner of the issuing company or any of its subsidiaries.

2 In subsection (1) “ subsidiary ”, in relation to the issuing company, means a company which at any time in period A is a 51% subsidiary of the issuing company, whether or not it is such a subsidiary while the individual or associate concerned is such an employee, partner or director as is mentioned in that subsection.

3 For the purposes of this section and sections 168 and 169, in the case of an individual (“A”) who is both a director and an employee of a company—

a references (however expressed) to A in A's capacity as a director of the company include A in A's capacity as an employee of the company, but b (apart from that) A is to be treated as a director, and not as an employee, of the company.