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Group relief: beneficial percentage.
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114.—For the purposes of sections 108 and 110 to 113—
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(a) the percentage to which one company is beneficially entitled of any profits available for distribution to the equity holders of another company, and
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(b) the percentage to which one company would be beneficially entitled of any assets of another company on a winding up,
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means the percentage to which the first company is, or would be, so entitled either directly or through another company or other companies or partly directly and partly through another company or other companies.
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