Commentary on Sections Overview Chapter 8: Groups of companies: introduction Section 766: Only effective 51% subsidiaries of principal company to be members of group
2061.This section imposes an additional group requirement for the purposes of the intangible fixed asset rules. It is based on paragraph 48 of Schedule 29 to FA 2002.
2062.Subsection (2) is new and gives a signpost to the definition of “effective 51% subsidiary”.