Inter-connected undertakings definition expanded ownership and control criteria for treating undertakings as inter-connected under excise law.

The amendment replaces the Explanation to section 4(3)(b) with an expanded definition of inter-connected undertakings, specifying ownership and control tests: direct or indirect ownership or control; common partners among firms; corporate relationships by management, subsidiary status, shared management, or other control; cross-ownership or control between firms and corporates; common management among corporate partners; common ownership or control by the same person or group; and transitive connection through chains of inter-connected undertakings. Explanations detail when corporates are deemed under the same management, aggregate holdings, exclusion of financial institutions' shareholdings, and definitions of group and associated persons.

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