Section 1090 | Meaning of “company concerned in an exempt distribution”

(1)For the purposes of this Chapter the companies concerned in an exempt distribution are—

(a)any relevant company (as defined in section 1080), and

(b)any other company which was connected with any relevant company for the whole or any part of the affected period.

(2)In this section “the affected period” means the period—

(a)beginning with the exempt distribution, and

(b)ending with the making of the payment in question.

(3)For the purposes of this section, if a company (“A”) is connected with another company (“B”) in the affected period, A is also connected in that period with any company with which B is connected (with or without the help of this subsection) in that period.