C1Part IV Shares, securities, options etc.
C2F1Chapter 4Alternative finance arrangements
Pt. 4 Ch. 4 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 28 (with Sch. 9 paras. 1-9, 22)
Pt. 4 Ch. 4 applied (with modifications) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 9 para. 40 (with Sch. 9 paras. 1-9, 22)
F3Arrangements that are alternative finance arrangements
S. 151J and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 2 para. 30 (with Sch. 9 paras. 1-9, 22)
151MF2Profit share agency arrangements
1
This section applies to arrangements if under them—
a
a person (“the principal”) appoints an agent,
b
one or both of the principal and agent is a financial institution,
c
the agent uses money provided by the principal with a view to producing a profit,
d
the principal is entitled, to a specified extent, to profits resulting from the use of the money,
e
the agent is entitled to any additional profits resulting from its use (and may also be entitled to a fee paid by the principal), and
f
payments made because of the principal's entitlement to profits equate, in substance, to the return on an investment of money at interest.
2
This section is subject to section 151O (provision not at arm's length: exclusion of arrangements from sections 151J to 151L, this section and section 151N).
Pt. IV: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)