Document ID: chunk:federal_register_of_legislation:C2025C00029:section:2
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 2
Character Range: 6679782–6680530

2                                       both *fixed trusts                     There must be 2 or more *ultimate owners who:
                                                                               (a) at some time during that period, because of the same test in section 727‑410, have *ultimate stakes, of percentages totalling at least 80%, in one of the trusts; and
                                                                               (b) at that or a different time during that period, because of that same test, have * ultimate stakes, of percentages totalling at least 80%, in the other trust
                                                                               Also, subsection (2) of this section must be satisfied