Point in time view as at 31/03/2022.
Energy Act 2004, Paragraph 23 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
23(1)This paragraph applies if, in consequence of a transfer to which this Part of this Schedule applies, the transferee replaces a person as a party to a loan relationship.U.K.
(2)[F1Part 5 of the Corporation Tax Act 2009] is to have effect in relation to the time when the transfer takes effect and any later time as if—
(a)the transferee had been a party to the loan relationship at the time when the transferor became a party to it and at all times since that time; and
(b)the loan relationship to which the transferee is a party after the time when the transfer takes effect is the same loan relationship as that to which, by virtue of paragraph (a), it is treated as having been a party before that time.
(3)Expressions used in this paragraph and in [F2Part 5 of the Corporation Tax Act 2009] have the same meanings in this paragraph as in [F2that Part].
Textual Amendments
F1Words in Sch. 9 para. 23(2) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(5)(a) (with Sch. 2 Pts. 1, 2)
F2Words in Sch. 9 para. 23(3) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 586(5)(b) (with Sch. 2 Pts. 1, 2)
Commencement Information
I1Sch. 9 para. 23 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1
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