VCM20520 - Enterprise investment scheme (EIS): General: Company invested in - meaning of “control” in independence rule

ICTA/S293 (8); ITA/S185 (2)

For the purpose of VCM20510, the meaning of “control” is as follows.

For the purpose of determining whether a company is under the control of another company on or after 21 March 2000, “control” has the meaning given to it by ITA/S995.

This definition is not merely in terms of direct shareholdings and voting rights in the company concerned. Shareholdings and voting rights in any company, and powers conferred by the documents regulating any company, can be taken into account.