EGL64100 - Election to treat a joint venture or group company with significant minority shareholders as transparent: introduction

As an alternative to the attribution rules described at EGL60000+, F(2)A23/S300 and F(2)A23/S301 provide the option to treat a joint venture company or a group company with at least one significant minority shareholder as being transparent for EGL purposes. The result is that the relevant company will be treated in a similar way to a partnership.

The ability to make an election is subject to conditions to ensure that all the affected participants or shareholders consent to the treatment.

EGL64200 describes the conditions for an election and how one is to be made. EGL64300 then sets out the consequences of making the election.