SCHEDULES
SCHEDULE 4F1... CSOP schemes
Part 8Supplementary provisions
Jointly owned companies
34
1
This paragraph applies for the purposes of the provisions of the CSOP code relating to group schemes.
2
Each joint owner of a jointly owned company is to be treated as controlling every company within sub-paragraph (3).
3
The companies within this sub-paragraph are—
a
the jointly owned company, and
b
any company controlled by that company.
4
However, no company within sub-paragraph (3) may be—
a
a constituent company in more than one group scheme, or
b
a constituent company in a particular group scheme if another company within that sub-paragraph is a constituent company in a different group scheme.
5
In this paragraph a “jointly owned company” means a company which (apart from sub-paragraph (2)) is not controlled by any one person and—
a
of which 50% of the issued share capital is owned by one person and 50% by another, or
b
which is otherwise controlled by two persons taken together.
6
In this paragraph “joint owner” means one of the persons mentioned in sub-paragraph (5)(a) or (b).
Word in Sch. 4 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 164, 204 (with Sch. 8 paras. 205-215)