Finance Act 2020
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Change 1
58 Section 57: meaning of “relevant entity”
(1) In section 57 “relevant entity” means— (a) a company, or (b) an entity the shares or other interests in which are listed on a recognised stock exchange and are sufficiently widely held. (2) Shares or other interests in an entity are “sufficiently widely held” if no participator in the entity holds more than 10% by value of all the shares or other interests in the entity. (3) The following are not relevant entities— (a) the Crown; (b) a Minister of the Crown; (c) a government department; (d) a Northern Ireland department; (e) a foreign sovereign power. (4) In this section— (a) “participator” has the meaning given by section 454 of CTA 2010; (b) “recognised stock exchange” has the meaning given by section 1137 of CTA 2010; (c) the reference to shares or other interests being listed on a recognised stock exchange is to be read in accordance with section 1137 of CTA 2010. (5) For the meaning of “company” see section 72.
58 Section 57: meaning of “relevant entity”
(1) In section 57 “relevant entity” means— (a) a company, or (b) an entity the shares or other interests in which are listed on a recognised stock exchange and are sufficiently widely held. (2) Shares or other interests in an entity are “sufficiently widely held” if no participator in the entity holds more than 10% by value of all the shares or other interests in the entity. (3) The following are not relevant entities— (a) the Crown; (b) a Minister of the Crown; (c) a government department; (d) a Northern Ireland department; (e) a foreign sovereign power. (4) In this section— (a) “participator” has the meaning given by section 454 of CTA 2010; (b) “recognised stock exchange” has the meaning given by section 1137 of CTA 2010; (c) the reference to shares or other interests being listed on a recognised stock exchange is to be read in accordance with section 1137 of CTA 2010. (5) For the meaning of “company” see section 72.
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