- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)After section 92 of the Finance Act 1996 insert—
(1)This section applies to a liability if—
(a)the liability represents a debtor relationship of a company (“the debtor company”); and
(b)the rights attached to the asset that represents the corresponding creditor relationship include provision by virtue of which a person is or may become entitled to acquire (whether by conversion or exchange or otherwise)—
(i)any shares in the debtor company, or
(ii)any shares in another company.
(2)The debits falling for any accounting period to be brought into account for the purposes of this Chapter in respect of a debtor relationship represented by a liability to which this section applies shall not include debits in relation to any of the amounts falling within subsection (3) below.
(3)The amounts are—
(a)any amounts payable by the debtor company in respect of, or in connection with, any such acquisition of shares as is described in subsection (1)(b)(ii) above, but not any amounts to which subsection (4) below applies; and
(b)any charges or expenses incurred by the debtor company as described in paragraph (b), (c) or (d) of section 84(3) above, where the related transaction in question relates to, or is connected with, the acquisition of shares by another person (whether by conversion or exchange or otherwise) as described in subsection (1)(b) above.
(4)This subsection applies to amounts payable by the debtor company, as described in subsection (3)(a) above, in respect of the debtor relationship in a case where—
(a)the debtor company is carrying on a banking business or a business consisting wholly or partly in dealing in securities, and
(b)it entered into the debtor relationship in the ordinary course of that business.
(5)For the purposes of subsection (4) above “securities” has the same meaning as in section 473 of the Taxes Act.
(6)Subject to subsection (7) below, only an authorised accruals basis of accounting shall be used for ascertaining the amounts which fall to be taken into account as described in subsection (2) above.
(7)The requirement in subsection (6) above to use an authorised accruals basis of accounting does not apply in the case of a debtor relationship where—
(a)the debtor company is carrying on a banking business or a business consisting wholly or partly in dealing in securities, and
(b)it entered into the debtor relationship in the ordinary course of that business.”.
(2)The amendments made by this section have effect—
(a)in relation to any amounts falling within section 92A(3)(a), where those amounts fall to be paid after 25th July 2001, and
(b)in relation to any charges or expenses falling within section 92A(3)(b), where those charges or expenses accrue after 25th July 2001.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
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