- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)This section applies if—
(a)the money debt owed by or to the firm arises from a transaction for the lending of money, and
(b)there is a time in an accounting period of a company partner (“the relevant accounting period”) when conditions A, B and C are met.
(2)Condition A is that—
(a)if the debt is owed by the firm, the company partner stands in the position of a creditor and accordingly has a creditor relationship, and
(b)if the debt is owed to the firm, the company partner stands in the position of a debtor and accordingly has a debtor relationship.
(3)Condition B is that the company partner controls the firm either alone or taken together with one or more other company partners connected with the company partner (see subsection (7)).
(4)Condition C is that the company partner or any other company partner is treated under section 381(3) as if—
(a)it had the debtor relationship which corresponds to the creditor relationship mentioned in subsection (2)(a), or
(b)it had the creditor relationship which corresponds to the debtor relationship mentioned in subsection (2)(b).
(5)If this section applies, for the purposes of this Part for the relevant accounting period there is taken to be a connection between—
(a)the company partner, and
(b)each company partner that is within subsection (4) (including the company partner itself if it is within that subsection),
as a result of one of them having control of the other at a time in the period for the purposes of section 466(2).
(6)The provisions of this Part about connected companies relationships apply accordingly.
(7)For the purposes of subsection (3), one company partner is connected with another at any time in an accounting period if at that or any other time in the accounting period—
(a)one controls the other, or
(b)both are under the control of the same person.
(8)Section 472 (meaning of “control”) applies for the purposes of this section.
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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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