121 Associated persons

121  Associated persons

(1)     For the purposes of sections 122 to [124] and Schedule 8, a partnership or body corporate is associated with another person in the circumstances mentioned in subsections (2) to (5).

(2)     Where a person's interest in a relevant building was held on trust at the qualifying time, any partnership or body corporate which was a beneficiary of the trust at that time is to be regarded, for the purposes of the provisions mentioned in subsection (1) as they apply in relation to the relevant building, as associated with the person.

(3)     A partnership is associated with any person who was a partner in the partnership, other than a limited partner, at any time in the period of 5 years ending at the qualifying time (“the relevant period”).

(4)     A body corporate is associated with any person who was a director of the body corporate at any time in the relevant

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