Section 459 Transfer of intellectual property by controlled company
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Amendments
Section 459 (new version) inserted by Finance Act 2005 section 20(1) from 2 December 2004.
(1) For the purposes of this Chapter where a research institution has control of a company, a transfer of intellectual property from the company is to be treated as a transfer from the research institution.
(2) For the purposes of this Chapter where two or more research institutions together have control of a company, a transfer of intellectual property from the company is to be treated as a transfer from those research institutions.
(3) In this section “control” means control within the meaning of section 416 of ICTA.
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