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SCHEDULES

SCHEDULE 25U.K.Loan relationships

Part 1U.K.Amendments of the Finance Act 1996

Meaning of “loan relationship” etc: method of settlementU.K.

2(1)Section 81 is amended as follows.

(2)In subsection (2) (which defines a money debt as a debt which falls to be settled by the payment of money etc)—

(a)for “which falls” substitute “ which is, or has at any time been, one that falls, or that may at the option of the debtor or of the creditor fall, ”; and

(b)after paragraph (b) insert—

disregarding any other option exercisable by either party..