Corporation Tax Act 2010 section 722

When things other than ordinary share capital may be taken into account: Chapter 6

Section 722 allows factors other than ordinary share capital to be used when determining whether a change in company ownership has occurred, where extraordinary rights or powers make the ordinary share capital test inappropriate.

• Where persons hold extraordinary rights or powers under a company's governing documents, and this makes ordinary share capital an unreliable measure of ownership, alternative tests may be applied.
• Instead of ordinary share capital, all kinds of share capital or any particular kind of share capital may be taken into account.
• Voting power may also be considered as an alternative measure of ownership.
• Any other kind of special power may be used to determine whether a change in ownership has taken place.