VCM15120 - Investee companies: Meaning of “connected”

ICTA/S839 & ITA/S993

For the purposes of VCM15110 “connected” has the meaning given in ICTA/S839 and ITA/S993, (see CG14580 onwards, which deals with similarly worded legislation).

Note that, as well as the more obvious connections, ICTA/S839(7) and ITA/S993(7) provide that persons are to be regarded as connected in relation to a company if they act together to secure or exercise control of that company. The provision extends to persons acting on the direction of any of those persons. Guidance can be found at CG14622.