Part 15Deduction of income tax at source
Chapter 2Deduction by deposit-takers and building societies
Other investments which are not relevant investments
870Other investments
(1)
An investment with a deposit-taker is not a relevant investment if—
(a)
it is a loan made by a deposit-taker in the ordinary course of its business or activities,
(b)
it is a debt on a security which is listed on a recognised stock exchange, or
(c)
it is a debt on a debenture issued by the deposit-taker (see section 1022).
(2)
An investment with a building society is not a relevant investment if—
(a)
it is a loan made by a bank (as defined in section 991), or
(b)
it is a security (including a share) issued by a building society which is listed, or capable of being listed, on a recognised stock exchange.