Finance Act, 1991
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Additional conditions to those otherwise provided for. |
65.—(1) Subject to section 66 the vendor shall not immediately after the purchase be connected with the company making the purchase or with any company which is a member of the same group as that company. | |
(2) In subsection (1) “group” has the same meaning as it has for the purposes of section 64 . | ||
(3) Subject to section 66 , the purchase shall not be part of a scheme or arrangement which is designed or likely to result in the vendor or any associate of his having interests in any company such that, if he had those interests immediately after the purchase, any of the conditions in sections 63 and 64 and subsection (1) could not be satisfied. | ||
(4) A transaction occurring within one year after the purchase shall be deemed for the purposes of subsection (3) to be part of a scheme or arrangement of which the purchase is also part. |