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Shares or securities of a company wholly or mainly making or holding investments will be eligible for relief where the they are shares or securities of a company whose business is mainly that of being a holding company of one or more companies whose business is not dealing in securities etc or holding investments¹.

For the meaning of 'wholly or mainly' and 'making or holding investments' see I7.112.

For the purposes of these provisions a company and all its subsidiaries are members of a group and 'holding company' and 'subsidiary' have the same meanings as in the Companies Act 2006, s 1159 and Schedule 6 to that Act². A holding company is defined as a holding company in relation to another company if that other company is its subsidiary.

A company is a 'subsidiary' of another company, its 'holding company', if that other company:

1. Ìý

   •ÌýÌýÌýÌý holds a majority of the voting rights in it, or

2. Ìý

   •ÌýÌýÌýÌý is a member of it and has the right