Section 259NC | Related persons ^F1

(1)Two persons are “related” on any day that—

(a)they are in the same control group (see section 259NB), or

(b)the 25% investment condition is met in relation to them.

(2)The 25% investment condition is met in relation to a person (“A”) and another person (“B”) if—

(a)A has a 25% investment in B, or

(b)a third person has a 25% investment in each of A and B.

(3)Section 259ND applies for the purposes of determining whether a person has a “25% investment” in another person.