SCHEDULES
SCHEDULE 5Financing costs and income of group companies
Amendments of Chapter 10 (other interpretative provisions)
31
1
Section 345 (meaning of “UK group company” and “relevant group company”) is amended as follows.
2
For subsections (2) and (3) substitute—
2
A company is a “UK group company” if—
a
it is a member of the worldwide group, and
b
it meets conditions A and B.
3
A company is a “relevant group company” if—
a
it is a member of the worldwide group, and
b
it meets conditions A, B and C.
3
After subsection (4) insert—
4A
Condition B is that the company is not a securitisation company within the meaning of section 83(2) of FA 2005 or section 623 of CTA 2010.
4
In subsection (5), for “B” substitute “
C
”
.