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Electricity Act 1989
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Changes to legislation:
Electricity Act 1989, Paragraph 8 is up to date with all changes known to be in force on or before 17 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 4(1)(da) inserted by 2023 c. 52 s. 205(2)(b)
- s. 4(3CA) inserted by 2023 c. 52 s. 205(3)
- s. 4(3EA) inserted by 2023 c. 52 s. 205(5)
- s. 6(1)(ea) inserted by 2023 c. 52 s. 205(8)(b)
- s. 6(2AA) inserted by 2023 c. 52 s. 205(9)
- s. 6(6E) inserted by 2023 c. 52 s. 205(10)
- s. 8A(1C) inserted by 2023 c. 52 s. 206(6)
- s. 10NA inserted by 2023 c. 52 s. 207(2)
- s. 11E(2)(d) and word inserted by 2013 c. 32 s. 138(5)(b)(iii)
- s. 15(2)(aa) inserted by S.I. 2019/93, Sch. 1 para. 3(2)(b) (as substituted) by S.I. 2019/1245 reg. 19 (This amendment not applied to legislation.gov.uk. The affecting statutory instrument has no legal effect. It was made under a procedure which meant that it ceased to have effect 28 days after signing unless it was debated and approved in Parliament within that time. It was not debated and approved within 28 days, so it has expired with no effect.)
- s. 43(8) inserted by 2024 c. 13 Sch. 29 para. 9
- s. 44A inserted by 1992 c. 43 s. 23
- s. 44A(6)(b)(i) words substituted by 2013 c. 22 Sch. 9 para. 52
- s. 44B(1)(a)(iiia) inserted by 2023 c. 52 Sch. 17 para. 8
- s. 56C(6)(d) and word inserted by 2013 c. 32 s. 138(5)(d)(ii)
- s. 56CB(7) inserted by 2024 c. 13 Sch. 30 para. 10(5)
8(1)Any share issued by a successor company in pursuance of section 71 or 80 of this Act shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to that company of an amount equal to the nominal value of the share.E+W+S
(2)Any debenture issued by a successor company in pursuance of section 71 or 80 of this Act shall be treated for the purposes of the Corporation Tax Acts as if it had been issued—
(a)wholly in consideration of a loan made to that company of an amount equal to the principal sum payable under the debenture; and
(b)wholly and exclusively for the purposes of the trade carried on by that company.
[F1and if any such debenture includes provision for the payment of a sum expressed as interest in respect of a period which falls wholly or partly before the issue of the debenture, any payment made in pursuance of that provision in respect of that period shall be treated for the purposes of the Corporation Tax Acts as if the debenture had been issued at the commencement of that period and, accordingly, as interest on the principal sum payable under the debenture.]
Textual Amendments
F1Words in Sch. 11 para. 8(2) added(retrospectively) by Finance Act 1991 (c. 31, SIF 63:1), s.80.
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