Section 809VF | Condition B

(1)Condition B is that no relevant person has (directly or indirectly) obtained or become entitled to obtain any related benefit, and no relevant person expects to obtain any such benefit.

(2)A “benefit”—

(a)includes the provision of anything that would not be provided to the relevant person in the ordinary course of business, or would be provided but on less favourable terms, but

(b)does not include the provision of anything provided to the relevant person in the ordinary course of business and on arm's length terms.

(3)A benefit is “related” if—

(a)it is directly or indirectly attributable to the making of the investment (whether it is obtained before or after the investment is made), or

(b)it is reasonable to assume that the benefit would not be available in the absence of the investment.

(4)For the purposes of subsection (2)—

(a)a reference to the provision of anything is to the provision of anything in money or money's worth, including property, capital, goods or services of any kind, and

(b)“provision” includes any arrangement that allows a person to enjoy or benefit from the thing in question (whether temporarily or permanently).