SCHEDULES
SCHEDULE 22Avoidance involving financial arrangements
Depreciatory transactions
7
1
Section 91A of FA 1996 (shares treated as loan relationship: shares subject to outstanding third party obligations which are interest-like investments) is amended as follows.
2
After subsection (2) insert—
2A
No debits are to be brought into account by the investing company for the purposes of this Chapter as respects the share.
3
In subsections (3) and (4), omit “debits and”.