Section 44C

A is the spouse, or a parent, step-parent or remoter lineal ancestor, or a son, stepson, daughter, stepdaughter or remoter issue, or a brother or sister, of B;

A is a partner of B in a partnership or limited liability partnership;

A is a corporation of which B is an officer;

B is a corporation of which A is an officer;

A and B are officers of the same corporation;

A is an employee of B;

B is an employee of A;

A and B are employees of the same employer;

A is the trustee of a discretionary trust where B (or another person who is an associate of B by virtue of any paragraph, except this paragraph and paragraphs (j) and (r)) benefits, or is capable (whether by exercise of a power of appointment or otherwise) of benefitting, under the trust, either directly or through interposed entities or trusts;

B is the trustee of a discretionary trust where A (or another person who is an associate of A by virtue of any paragraph, except this paragraph and paragraphs (i) and (r)) benefits, or is capable (whether by exercise of a power of appointment or otherwise) of benefitting, under the trust, either directly or through interposed entities or trusts;

A is a corporation whose directors are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of B or, where B is a corporation, of the directors of B;

B is a corporation whose directors are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of A or, where A is a corporation, of the directors of A;

A is a person who is accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of B or, where B is a corporation, of the directors of B;

B is a person who is accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of A or, where A is a corporation, of the directors of A;

A is a related corporation of B or B is a related corporation of A;

A is a corporation in which B, alone or together with other associates of B as described in paragraphs (b) to (o), is in a position to control at least 20% of the voting power in A;

B is a corporation in which A, alone or together with other associates of A as described in paragraphs (b) to (o), is in a position to control at least 20% of the voting power in B;

A is a person with whom B enters, or proposes to enter, into an agreement or arrangement (whether oral or in writing and whether express or implied) that relates to any of the following matters:

A and B being in a position, by acting together, to control any of the voting power in a designated entity, designated business trust or designated trust;

A and B acting together with respect to the acquisition, holding or disposal of equity interests or other interests in a designated entity, designated business trust or designated trust;

the power of A and B, by acting together, to appoint or remove a director of a designated entity, a director of the trustee-manager of a designated business trust or, where the trustee of a designated trust is a corporation, a director of the trustee;

the situation where one or more of the directors of —

a designated entity; (B)the trustee-manager of a designated business trust; or

the trustee of a designated trust, where the trustee is a corporation, is or are accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of A and B acting together;

A controls more than half of the voting power of a holding company of B;

B controls more than half of the voting power of a holding company of A; or

A is related to B in such other manner as may be prescribed by regulations made under section 72.

the holding company of B;

a subsidiary of B; or

a subsidiary of the holding company of B.

B controls the composition of the board of directors of A;

B controls more than half of the voting power of A; or

A is a subsidiary of any corporation which is B’s subsidiary.

a person cannot be appointed as a director without the exercise in the person’s favour by B of such a power; or

a person’s appointment as a director follows necessarily from that person being a director or other officer of B.

any shares held or power exercisable by B in a fiduciary capacity is treated as not held or exercisable by B;

subject to paragraphs (c) and (d), any shares held or power exercisable —

by any person as a nominee for B (except where B is concerned only in a fiduciary capacity); or

by, or by a nominee for, a subsidiary of B, not being a subsidiary which is concerned only in a fiduciary capacity,is to be treated as being held or exercisable by B;

any shares held or power exercisable by any person by virtue of the provisions of any debentures of A, or of a trust deed for securing any issue of such debentures, is to be disregarded; and

any shares held or power exercisable by, or by a nominee for, B or its subsidiary (not being held or exercisable as mentioned in paragraph (c)) is to be treated as not held or exercisable by B if the ordinary business of B or its subsidiary (as the case may be) includes the lending of money and the shares are so held or power is so exercisable by way of security only for the purposes of a transaction entered into in the ordinary course of that business.