Section 257TC | Meaning of “associate”

(1)In this Part “associate”, in relation to a person, means—

(a)any relative or partner of the person,

(b)the trustee or trustees of any settlement in relation to which the person, or any relative of the person (living or dead), is or was a settlor, and

(c)if the person has an interest in any shares or obligations of a company which are subject to any trust or are part of the estate of a deceased person—

(i)the trustee or trustees of the settlement concerned or, as the case may be, the personal representatives of the deceased, and

(ii)if the person is a company, any other company which has an interest in those shares or obligations.

(2)In this section “relative” means spouse, civil partner, ancestor or lineal descendant.