The Taxation of Securitisation Companies Regulations 2006

Application, modification and non-application of provisions of the Corporation Tax Acts

19.—(1) Paragraph 2 of Schedule 9 to the Finance Act 1996 (loan relationships: special computational provisions: late interest)(1) shall not apply if the person standing in the position of a creditor as respects a loan relationship within that paragraph is a securitisation company.

(2) Paragraph 12 of that Schedule (continuity of treatment: groups etc)(2) shall not apply if the “transferee company” or “transferor company” in subparagraph (1) of that paragraph is a securitisation company.

(1)

Paragraph 2 of Schedule 9 was amended by section 82 of, and paragraphs 1 and 22 of Schedule 25 to, the Finance Act 2002 (c. 23), sections 178 and 216 of, and paragraphs 1 and 2 of Schedule 37 and part 3(14) of Schedule 43 to, the Finance Act 2003, sections 48, 281 and 284 of, and paragraph 2 of Schedule 8 and paragraphs 43 and 45 of Schedule 35 to, the Finance Act 2004 and sections 40 and 70 of, and paragraph 2 of Schedule 8 and part 2(9) of Schedule 11 to, the Finance (No. 2) Act 2005.

(2)

Paragraph 12(1) was relevantly amended by section 102 of, and paragraph 44(1), (4) and (5) of Schedule 29 to, the Finance Act 2000, articles 92 and 94 of S.I. 2001/3629 and regulation 9 of S.I. 2004/2200.