Part 11 U.K.Close companies
Exceptions to the charge under section 455U.K.
69(1)The reference in section 456(4)(b) to other outstanding loans and advances does not include a loan or advance made before 31 March 1971 unless it was made for the purpose of purchasing a dwelling which was or was to be the borrower's only or main residence.U.K.
(2)Condition A in section 456(4) is not to be treated as met if such of the other outstanding loans and advances within section 456(4)(b) as were made before 31 March 1971 together exceed £10,000.
(3)The reference in section 456(7) to a loan or advance does not include one made before 31 March 1971.