Section 371QB | Provision about interpretation ^F1

(1)This section applies for the purposes of this Chapter.^F1

(2)Section 371OB applies as it applies for the purposes of Chapter 15.^F1

(3)“Ordinary shares”, in relation to any company, means shares of a single class, however described, which is the only class of share issued by the company.^F1

(4)For the purposes of subsection (3)—^F1

(a)“share” includes a fraction of a share, and^F1

(b)shares issued by a company which are paid up to different amounts are not to be taken to be of a single class.^F1

(5)A person (“P”) holds ordinary shares in the CFC “indirectly” if P directly holds ordinary shares in a company which is share-linked to the CFC.^F1

(6)A company is “share-linked” to the CFC if it has an interest in the CFC only by virtue of it holding directly—^F1

(a)ordinary shares in the CFC, or^F1

(b)ordinary shares in another company which is share-linked to the CFC (whether by virtue of paragraph (a) or this paragraph),^F1

and “share-linked company” means a company which is share-linked to the CFC.