(1) In this chapter,-
(a) "comparable uncontrolled transaction", in relation to a controlled transaction, means an uncontrolled transaction that satisfies one of the following conditions, namely:-
(a) the differences (if any) between the two transactions or between persons undertaking the transactions do not materially affect the price in the open market, the resale price margin or the cost plus mark up, as the case may be; or
(b) if the differences referred to in sub-clause (i) do materially affect the price in the open market, the resale price margin or the cost plus mark up, as the case may be, then reasonably accurate adjustments can be made to eliminate the material effects of such differences;
(b) "controlled transaction" means a transaction between associates;
(c) "transaction" means any sale, assignment, lease, license, loan, contribution, right to use property or performance of services;
(d) "uncontrolled persons" means persons who are not associates; and
(e) "uncontrolled transaction" means a transaction between uncontrolled persons.
