Schedule 1C, paragraph 20(4)

For the purposes of this Schedule, where a person (“A”) is a subsidiary undertaking of another person (“B”) within the meaning of section 420 of the Financial Services and Markets Act 2000 (but disregarding subsections (2)(b) and (3) of that section, and subsections (2)(c) and (4)(b) of section 1162 of the Companies Act 2006)— A is deemed to be acting in concert with B and with any other subsidiary undertakings of B, and B and those subsidiary undertakings are deemed to be acting in concert with A.

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Source: legislation.gov.uk · retrieved 2026-09-04