ETASSUM28120 | Schedule 2 share incentive plan (SIP): Supplementary and defined terms: Associated company

Paragraph 94 provides the definition of what constitutes an associated company for the purposes of the SIP code. A company is an associated company of another company if at a particular time, one has control of the other, or both are under the control of the same person or persons. For the purposes of paragraph 94 the question of whether a person controls a company is to be determined in accordance with section 450 & 451 of CTA2010.

This definition does not apply for the purposes of paragraph 29 (prohibited shares in a service company).