There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2005. Any changes that have already been made by the team appear in the content and are referenced with annotations.
6(1)Section 162 (meaning of “loan”) is amended as follows.U.K.
(2)In subsection (3) (guarantee of loan to or in respect of member or sponsoring employer to be treated as loan), after “scheme” insert “ , or to or in respect of a person who is connected with a member or sponsoring employer of a registered pension scheme but is not a member or sponsoring employer of the pension scheme, ”.
(3)In subsection (4) (debt of member or sponsoring employer not required to be repaid at normal time to be treated as loan), after “registered pension scheme” insert “ or a person who is connected with a member or sponsoring employer of a registered pension scheme but is not a member or sponsoring employer of the pension scheme ”.
(4)After subsection (5) insert—
“(6)Section 839 of ICTA (connected persons) applies for the purposes of this section.”
Commencement Information
I1Sch. 10 para. 6 in force at 6.4.2006, see Sch. 10 para. 64(1)
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