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(b) the percentage to which one body is beneficially entitled of any assets of another body available for distribution on a winding-up has, subject to any necessary modifications, the meaning assigned to it by section 415 of the Taxes Consolidation Act, 1997.

is less than 25 per cent of such profits or assets (as the case may be) of the subsidiary company at such time, and sections 413, 414, 415 and 418 shall, with any necessary modifications but without regards to section 411(1)(c) in so far as it relates to those sections, apply to the determination of the percentage of those profits or assets (as the case may be) to which a company is beneficially entitled as they apply to the determination for the purposes of Chapter 5 of Part 12 of the percentage of any such profits or assets to which a company is so entitled.

shall be determined in accordance with sections 413 and 415, but construing references in section 415 to the first company as references to an equity holder and references to a winding up as including references to other circumstances in which assets of the company are available for distribution to its equity holders;

shall be determined in accordance with sections 413 and 415, but construing references in section 415 to the first company as references to an equity holder and references to a winding up as including references to other circumstances in which assets of the company are available for distribution to its equity holders;

(b) the percentage of assets to which on the notional winding up the first company referred to in section 415(1) would be entitled,

(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.

(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.

(b) the percentage of assets to which on the notional winding up the first company referred to in section 415(1) would be entitled,

shall be determined in accordance with sections 413 and 415, with references in section 415 to the first company being construed as references to an equity holder and references to a winding up being construed as including references to any other circumstances in which assets of the company are available for distribution to its equity holders.

shall be determined in accordance with sections 413 and 415, with references in section 415 to the first company being construed as references to an equity holder and references to a winding up being construed as including references to any other circumstances in which assets of the company are available for distribution to its equity holders.

(ii) In applying sections 413 and 415 in determining the percentage of share capital or other amount which a shareholder beneficially owns or is beneficially entitled to under subparagraph (i), no regard shall be had to the provisions of section 411(1)(c).

at such time before the disposal, and sections 413 to 415 and section 418 shall apply, but without regard to section 411(1)(c) in so far as it relates to those sections, with any necessary modifications, to the determination for the purposes of this paragraph of the percentage of share capital or other amount which a shareholder beneficially owns or is beneficially entitled to, as they apply to the determination for the purposes of Chapter 5 of Part 12 of the percentage of any such amount which a company so owns or is so entitled to.