https://www.taxtmi.com/acts?id=16406 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. en-us Tue, 29 May 2012 17:06:58 +0530 Tue, 29 May 2012 17:06:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16406 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. Act-Rules F. Acts / Amendment Acts Tue, 29 May 2012 17:06:58 +0530 https://www.taxtmi.com/acts?id=16406