The Board may think that a 'foreign subsidiary' is a 'controlled
foreign company'. If so it can under ICTA88/S755 (1) give a written
notice to the controlling company. The notice can ask for
particulars about the foreign subsidiary. It can also ask for
details of named documents.
The notice must state the time limit for provision of the
information. This cannot be less than thirty days. In practice, the
Board will allow a longer time. In most cases, an informal request
for the information will have preceded the formal notice.
The Board must need what it asks for in the notice for the
purposes of Chapter IV. The request must relate to the affairs of
the 'controlling company', the 'foreign subsidiary' or any
'connected or associated company'.
The Board will normally use these powers to get the accounts
of the 'foreign subsidiary' where informal requests have failed.
ICTA88/S839 and ICTA88/S783 (10) give the meaning of
'connected or associated'. A 'connected or associated company' is
any controlled foreign company connected or associated with the
'controlling company' or 'foreign subsidiary'.
