Part 15 U.K. Deduction of income tax at source

Modifications etc. (not altering text)

C1 Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)

Chapter 2 U.K. Deduction by deposit-takers and building societies

Other investments which are not relevant investments U.K.

870 Other investments U.K.

(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.