Section 268 | Meaning of “associate”

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

(a)any relative or partner of that person,

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

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

(2)In subsection (1)(a) and (b) “relative” means spouse or civil partner, ancestor or lineal descendant.

(3)In subsection (1)(b) “settlor” and “settlement” have the same meaning as in Chapter 5 of Part 5 of ITTOIA 2005 (see section 620 of that Act).