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Income Tax Act 2007

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This is the original version (as it was originally enacted).

565Overview of Part

This section has no associated Explanatory Notes

(1)This Part is about the income tax treatment of some arrangements for the transfer of securities.

(2)Chapter 2 deals with arrangements for the transfer of securities under which provision is made for the payment of amounts representative of dividends or interest in respect of the securities.

(3)Chapter 3 prevents parties to stock lending arrangements (see section 568) and repos (see section 569) from being entitled to tax credits in some circumstances.

(4)Chapter 4 brings within the rules in Chapters 2 and 3—

(a)some stock lending arrangements under which the dividends or interest in respect of the transferred securities are paid to a person other than the lender, and

(b)some repos where the original owner is not entitled to the dividends or interest in respect of the transferred securities.

(5)Chapter 5 deals with differences between the sale and repurchase price under repos.

(6)Chapter 6 contains powers to modify some of the provisions about repos.

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