Meaning of “investment"U.K.
2(1)For the purposes of this Schedule, a person makes an investment in a body at any time when—
(a)he makes a loan (whether secured or unsecured) to the body, or
(b)an issue of securities of or shares in the body, for which he has subscribed, is made to him.
(2)For the purposes of sub-paragraph (1)(a)—
(a)a person does not make a loan to a body where—
(i)the body uses overdraft facilities provided by that person, or
(ii)that person subscribes for or otherwise acquires securities of the body;
(b)where the loan agreement authorises the body to draw down amounts of the loan over a period of time, the loan is treated as made at the time when the first amount is drawn down.
Commencement Information
I1Sch. 16 para. 2 in force at 23.1.2003 by S.I. 2003/88, arts. 2, 3