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)
F2Special rules for investment bond arrangements
S. 151T 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. 40 (with Sch. 9 paras. 1-9, 22)
151TInvestment bond arrangements are qualifying corporate bonds
1
For the purposes of section 117, investment bond arrangements are a corporate bond, issued on the date on which the arrangements are entered into, if each of conditions A to D is met.
2
Condition A is that the capital is expressed in sterling.
3
Condition B is that the arrangements do not include provision for the redemption payment to be in a currency other than sterling.
4
Condition C is that entitlement to the redemption payment is not capable of conversion (directly or indirectly) into an entitlement to the issue of securities apart from other arrangements to which section 151N applies.
5
Condition D is that the additional payments are not determined wholly or partly by reference to the value of the bond assets.
6
Section 117(2) applies for the purposes of this section as it applies for the purposes of section 117(1).
F37
Expressions used in this section have the same meaning as in section 151N.
Pt. IV: power to modify conferred (7.4.2005) by Finance Act 2005 (c. 7), s. 21(8)-(10)