Taxes Consolidation Act 1997 section 835J

Meaning of "control"

Section 835J defines "control" for the purposes of Part 35B (controlled foreign companies), setting out the circumstances in which a person is taken to have control of a company.

• A person controls a company if that person exercises, or is able to exercise or acquire, direct or indirect control over the company's affairs — including by holding the majority of share capital, voting power, entitlement to distributable income, entitlement to assets on a winding up, or enough shares to control the board of directors.
• Future entitlements count: a person is treated as entitled to acquire anything that they are entitled to acquire at a future date or will become entitled to acquire.
• Rights held by a nominee on behalf of a person are attributed to that person, and the rights of associates, associated companies, and companies controlled by the person (or the person and associates together) may also be attributed to that person.
• Attributions are to be made in whichever way results in the company being treated as controlled by persons resident in the State, if it is possible to do so.