[165A Meaning of “holding company”, “trading company” and “trading group”]
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

[165A  Meaning of “holding company”, “trading company” and “trading group”]

[(1)     This section has effect for the interpretation of section 165 (and this section).

(2)     “Holding company” means a company that has one or more 51% subsidiaries.

(3)     “Trading company” means a company carrying on trading activities whose activities do not include to a substantial extent activities other than trading activities.

(4)     For the purposes of subsection (3) above “trading activities” means activities carried on by the company—

(a)     in the course of, or for the purposes of, a trade being carried on by it,

(b)     for the purposes of a trade that it is preparing to carry on,

(c)     with a view to its acquiring or starting to carry on a trade, or

(d)     with a view to its acquiring a significant interest in the share capital of another company that—

(i)     is a trading company or the holding company of a trading group, and

(ii)     if the acquiring company is a member of a group of companies, is not a member of that group.

(5)     Activities do not qualify as trading activities under subsection (4)(c) or (d) above unless the acquisition is made, or the company

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