Schedule 1, Part 2 Holding an interest in an eligible Scottish partnership etc. (paras. 7-9)
Introduction
7. This Part of this Schedule specifies the circumstances in which, for the purposes of paragraph (5) or (8) of regulation 3 -
(a) a person ("V") is to be regarded as holding an interest in an eligible Scottish partnership ("eligible Scottish partnership W");
(b) an interest held by V in eligible Scottish partnership W is to be regarded as held through a legal entity.
Holding an interest
(1) V holds an interest in eligible Scottish partnership W if -
(a) V holds, directly or indirectly, the right to surplus assets of eligible Scottish partnership W on a winding up,
(b) V holds, directly or indirectly, voting rights in eligible Scottish partnership W,
(c) V holds, directly or indirectly, the right to appoint or remove any of the persons entitled to take part in the management of eligible Scottish partnership W,