40(1)[F1Section 444 of CTA 2009] (transactions not at arm's length) is not to have effect where, as a result of a relevant transfer, the transferee replaces the transferor as a party to a loan relationship.U.K.
(2)Expressions used in this paragraph and in [F2Part 5 of CTA 2009] have the same meanings in this paragraph as in [F2that Part].
Textual Amendments
F1Words in Sch. 13 para. 40(1) substituted (with effect in accordance with s. 1329(1) of the commencing Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 739(12)(a) (with Sch. 2 Pts. 1, 2)
F2Words in Sch. 13 para. 40(2) substituted (with effect in accordance with s. 1329(1) of the commencing Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 739(12)(b) (with Sch. 2 Pts. 1, 2)