Finance Act 1996

Application and interpretation of Part I U.K.

1 (1) This Part of this Schedule has effect for the purposes of corporation tax. U.K.

(2) In this Part of this Schedule—

• “the 1992 Act” means the M1 Taxation of Chargeable Gains Act 1992;

• “continuing loan relationship”, in relation to any company, means any loan relationship to which the company was a party both immediately before and on 1st April 1996;

• “first relevant accounting period”, in relation to a company, means the first accounting period of the company to end after 31st March 1996; and

• “transitional accounting period”, in relation to a company, means any accounting period of the company beginning before and ending on or after 1st April 1996.

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In this Part of this Schedule references to this Chapter include references to any repeals having effect for the purposes of this Chapter.

Textual Amendments

F1 Sch. 15 para. 1(3) repealed (with effect in accordance with Sch. 10 of the amending Act) by Finance Act 2007 (c. 11), Sch. 10 para. 16(5)(d), Sch. 27 Pt. 2(10)

Marginal Citations

M1 1992 c. 12.