Schedule 2 share incentive plan (SIP): Supplementary and defined terms: Associated company
Paragraph 94 provides the definition of what constitutes an associated company for the purposes of the SIP code. A company is an associated company of another company if at a particular time, or within the previous 12 months, one has control of the other, or both are under the control of the same person or persons. For the purposes of paragraph 94 the question of whether a person controls a company is to be determined in accordance with section 450 & 451 of CTA2010.
This definition does not apply for the purposes of paragraph 29 (prohibited shares in a service company).