Search Legislation

Finance Act 2009

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 9

 Help about opening options

Alternative versions:

Status:

Point in time view as at 19/07/2011.

Changes to legislation:

Finance Act 2009, Paragraph 9 is up to date with all changes known to be in force on or before 07 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

This section has no associated Explanatory Notes

9(1)For the purposes of this Schedule a transaction is “excluded” if—U.K.

(a)it is carried out in the ordinary course of a trade,

(b)all the parties to the transaction are, at the time the transaction is carried out, resident in the same territory,

(c)it consists in giving to the bankers of a foreign subsidiary any security for the payment of any sum due or to become due from it to them by reason of any transaction entered into with it by them in the ordinary course of their business as bankers,

(d)it consists in a foreign subsidiary giving to an insurance company any security for the payment of any sum due or to become due from that subsidiary to that company by reason of any transaction entered into with that subsidiary by that company in the ordinary course of that company's business by way of investment of its funds, or

(e)it is of a description specified in regulations made by the Commissioners.

(2)Regulations under sub-paragraph (1)(e)—

(a)may make provision by reference to standards or other documents issued by any person, and

(b)may make different provision for different cases or purposes.

Back to top

Options/Help