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(iii) sections 412 to 418 shall apply for the purposes of this paragraph as they apply for the purposes of Chapter 5 of Part 12 and, where 2 companies are deemed to be members of a group by reason that both companies are wholly or mainly under the control of the same individual or individuals, those sections shall apply as they would apply for the purposes of that Chapter if the references in those sections to a parent company included a reference to an individual or individuals who hold shares in a company.

(3) For the purposes of paragraph (b)(ii)(II) of the definition of “non-resident person” paragraph (b)(iii)(I) of the definition of “qualifying non-resident person” in subsection (1), sections 412 to 418 shall apply as those sections would apply for the purposes of Chapter 5 of Part 12 if subparagraph (iii) of section 411(1)(c) were deleted.

(b) sections 412 to 418 shall apply with any necessary modifications as those sections would apply for the purposes of Chapter 5 of Part 12 if—

(ii) the following subsection were substituted for subsection (1) of section 412:

(5) For the purposes of subsection (3)(b)(ii)(II) subsection (3)(b)(iii)(I), sections 412 to 418 shall apply as those sections would apply for the purposes of Chapter 5 of Part 12 if subparagraph (iii) of section 411(1)(c) were deleted.

(b) sections 412 to 418 shall apply with any necessary modifications as those sections would apply for the purposes of Chapter 5 of Part 12—

(ii) if the following subsection were substituted for subsection (1) of section 412:

(c) For the purposes of paragraph (b)(i)(II), sections 412 to 418 shall apply as those sections would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted.

(1) Subject to the following provisions of this Chapter, for the purposes of section 412 the percentage to which one company is beneficially entitled of any profits available for distribution to the equity holders of another company means the percentage to which the first company would be so entitled in the relevant accounting period on a distribution in money to those equity holders of—

(1) Subject to the following provisions of this Chapter, for the purposes of section 412 the percentage to which one company would be beneficially entitled of any assets of another company available for distribution to its equity holders on a winding up means the percentage to which the first company would be so entitled if the other company were to be wound up and on that winding up the value of the assets available for distribution to its equity holders (after deducting any liabilities to other persons) were equal to—

(3) Where on the profit distribution the percentage of profits determined as mentioned in subsection (2)(a) is less than the percentage of profits determined under section 414(1) without regard to subsection (2)(a), the lesser percentage shall be taken for the purposes of section 412 to be the percentage of profits to which on the profit distribution the first company referred to in section 414(1) would be entitled as mentioned in that section.

(4) Where on the notional winding up the percentage of assets determined as mentioned in subsection (2)(b) is less than the percentage of assets determined under section 415(1) without regard to subsection (2)(b), the lesser percentage shall be taken for the purposes of section 412 to be the percentage to which on the notional winding up the first company referred to in section 415(1) would be entitled of any assets of the other company available for distribution to its equity holders on a winding up.

For the purposes of section 412 and sections 414 to 417—

(a) in a case within section 412(1), the accounting period current at the time in question, and

(b) in a case within section 412(2), the accounting period in relation to which the share in the consortium is to be determined.

(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they apply for the purposes of Chapter 5 of Part 12,

(ii) sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if—

(b) sections 412 to 418 shall apply for the purposes of this subsection as they would apply for the purposes of Chapter 5 of Part 12 if—

(ii)sections 412 to 418 shall apply for the purposes of this paragraph as they would apply for the purposes of Chapter 5 of Part 12 if section 411(1)(c) were deleted,