Finance (No. 2) Act 2023
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
243 Calculating percentage ownership interests of a specific entity or individual
(1) For the purpose of determining the percentage ownership interests in an entity (“A”) held by a specific entity or individual (“B”)— (a) ignore any indirect ownership interest not held by B, and (b) where B has an indirect ownership interest in A, reduce the direct ownership interest from which it is derived by the amount of that indirect ownership interest. (2) But this section does not apply for the purpose of any provision that requires the calculation of direct ownership interests only.
243 Calculating percentage ownership interests of a specific entity or individual
(1) For the purpose of determining the percentage ownership interests in an entity (“A”) held by a specific entity or individual (“B”)— (a) ignore any indirect ownership interest not held by B, and (b) where B has an indirect ownership interest in A, reduce the direct ownership interest from which it is derived by the amount of that indirect ownership interest. (2) But this section does not apply for the purpose of any provision that requires the calculation of direct ownership interests only.
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