Section 1069 | Additional persons treated as participators

(1)In sections 1064 to 1067 any reference to a participator includes an associate of a participator.

(2)If a company (“A”) controls another company (“B”), a person who—

(a)is a participator in A, or

(b)is an associate of a participator in A,

is treated for the purposes of sections 1064 to 1067 as being a participator in B as well.

(3)In this section the following expressions have the same meaning as in Part 10 (close companies)—

(a)“associate” (see section 448),

(b)“control” (see sections 450 and 451), and

(c)“participator” (see section 454).