Section 58 | Section 57: meaning of “relevant entity”

(1)In section 57 “relevant entity” means—

(a)a company, or

(b)an entity the shares or other interests in which are listed on a recognised stock exchange and are sufficiently widely held.

(2)Shares or other interests in an entity are “sufficiently widely held” if no participator in the entity holds more than 10% by value of all the shares or other interests in the entity.

(3)The following are not relevant entities—

(a)the Crown;

(b)a Minister of the Crown;

(c)a government department;

(d)a Northern Ireland department;

(e)a foreign sovereign power.

(4)In this section—

(a)“participator” has the meaning given by section 454 of CTA 2010;

(b)“recognised stock exchange” has the meaning given by section 1137 of CTA 2010;

(c)the reference to shares or other interests being listed on a recognised stock exchange is to be read in accordance with section 1137 of CTA 2010.

(5)For the meaning of “company” see section 72.