Taxes Consolidation Act 1997 Schedule 11 paragraph 2

Member of a consortium that owns another company

Schedule 11 paragraph 2 defines what it means for a company to be a member of a consortium that owns another company.

• A consortium consists of not more than five companies that together beneficially own at least 75% of another company's ordinary share capital.
• Each member of the consortium must beneficially own at least 5% of that ordinary share capital.
• Both the collective 75% threshold and the individual 5% threshold must be satisfied simultaneously.
• Ownership is determined by reference to beneficial ownership of ordinary share capital, not voting rights or other measures.