Corporation Tax Act 2010 section 726

Interpretation of Chapter

Section 726 defines two key terms used throughout the Chapter dealing with changes in company ownership.

• "Ownership" means beneficial ownership, not merely legal or nominee ownership
• Related terms such as "acquisition" and "shareholder" must be read in the same beneficial ownership sense
• "Shares" is defined broadly to include stock as well as ordinary shares
• These definitions apply throughout the Chapter and affect how all its provisions are interpreted