185“Trading company” and “holding company”U.K.
This section has no associated Explanatory Notes
(1)In this Part “trading company” means a company the business of which consists wholly or mainly in the carrying on of a trade or trades.
(2)In this Part “holding company” means a company the business of which consists wholly or mainly in the holding of shares or securities of companies that—
(a)are its 90% subsidiaries (see section 151), and
(b)are trading companies.