Section 357GD | Meaning of “group” ^F1

(1)For the purposes of this Part a company (“company A”) is a member of a group at any time if any other company is at that time associated with company A.^F1

(2)The group consists of company A and each company in relation to which the condition in subsection (1) is met.^F1

(3)For the purposes of this section a company (“company B”) is associated with company A at a time (“the relevant time”) if any of the following five conditions is met.^F1

(4)The first condition is that the financial results of company A and company B, for a period that includes the relevant time, meet the consolidation condition.^F1

(5)The second condition is that there is a connection between company A and company B for the accounting period of company A in which the relevant time falls.^F1

(6)The third condition is that, at the relevant time, company A has a major interest in company B or company B has a major interest in company A.^F1

(7)The fourth condition is that—^F1

(a)the financial results of company A and a third company, for a period that includes the relevant time, meet the consolidation condition, and^F1

(b)at the relevant time the third company has a major interest in company B.^F1

(8)The fifth condition is that—^F1

(a)there is a connection between company A and a third company for the accounting period of company A in which the relevant time falls, and^F1

(b)at the relevant time the third company has a major interest in company B.^F1

(9)In this section, the financial results of any two companies for any period meet “the consolidation condition” if—^F1

(a)they are required to be fully comprised in group accounts,^F1

(b)they would be required to be fully comprised in such accounts but for the application of an exemption, or^F1

(c)they are in fact fully comprised in such accounts.^F1

(10)In subsection (9) “group accounts” means accounts prepared under—^F1

(a)section 399 of the Companies Act 2006, or^F1

(b)any corresponding provision of the law of a country or territory outside the United Kingdom.^F1

(11)The following provisions apply for the purposes of this section—^F1

sections 466 to 471 of CTA 2009 (companies connected for accounting period), and

sections 473 and 474 of CTA 2009 (meaning of “major interest”).