Income Tax (Trading and Other Income) Act 2005

[F1 259 Meaning of “statutory insolvency arrangement” U.K.

In this Part “statutory insolvency arrangement” means—

(a) a voluntary arrangement that has taken effect under or as a result of the Insolvency Act 1986, [F2 the Insolvency (Northern Ireland) Order 1989 or schedule 4 to the Bankruptcy (Scotland) Act 2016],

[F3 (b) a compromise or arrangement that has taken effect under Part 26 [F4 or 26A] of the Companies Act 2006],

(c) any arrangement or compromise of a kind corresponding to any of those mentioned in paragraph (a) or (b) that has taken effect under or by virtue of the law of a country or territory outside the United Kingdom.]

Textual Amendments

F1 S. 259 substituted (with effect as mentioned in Sch. 6 para. 3(2) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), s. 37, Sch. 6 para.3(1)

F2 Words in s. 259(a) substituted (30.11.2016) by The Bankruptcy (Scotland) Act 2016 (Consequential Provisions and Modifications) Order 2016 (S.I. 2016/1034), art. 1, Sch. 1 para. 27

F3 S. 259(b) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008 (S.I. 2008/954), arts. 1(1), 37 (with art. 4)

F4 Words in s. 259(b) inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 9 para. 28 (with ss. 2(2), 5(2))