Where the majority of the shares in a company are subject to a
trust then, under ICTA88/S416 (2)(a), the trustee will have control
of that company (for the meaning of 'control' here see
CTM60220). However, it is often the case
that a person specialises in acting as a trustee - for example, a
solicitor or a trustee company of a clearing bank - and all the
companies under the control of the trustee would be associated with
each other.
Under the ESCC9, where association only arises because the
companies are under the common control of the trustee by virtue of
the rights and powers of shares held in trust, you should not treat
the companies as associated provided that there is no other past or
present connection between them.
Therefore, you should not treat the following companies as
associated, unless there is a past or present connection between
them:
