Introduction Equity holders Overview Section 132: Consortium condition 1
495.This section allows claims involving companies owned by a consortium. It is based on section 402 of ICTA.
496.Subsection (2) allows group relief to go “upwards” from a company owned by a consortium to a member of the consortium.
497.Subsection (3) allows group relief to go “downwards” from a member of a consortium to a company owned by the consortium.
498.Subsections (4) and (5) deny relief if the consortium relationship depends on shares that are held by a share-dealing company as part of its circulating capital.