Section 57(3)

This subsection applies to an event which consists of the formation by P and at least one other person of a body corporate (in this Chapter, a “joint venture vehicle”) where— P expects or intends that the joint venture vehicle will be a UK-connected body corporate, P has qualifying status in respect of shares or voting rights in relation to the joint venture vehicle, and the total value of— is at least £25 million. all capital and assets contributed by P to the joint venture vehicle when it is formed, and all other consideration provided by P, whether directly or indirectly, in relation to the formation of the joint venture vehicle,

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Source: legislation.gov.uk · retrieved 2026-07-30