Part 16Companies with investment business
Chapter 1Introduction
1217Overview of Part
(1)
This Part contains special rules for companies with investment business.
(2)
Chapters 2 and 3 provide relief for certain expenses of a company with investment business that are not relieved elsewhere.
(3)
Chapter 4 contains some restrictions on the relief.
(4)
There are provisions imposing liability to corporation tax in—
(a)
section 1229 (claw back of relief), and
(b)
Chapter 5 (companies with investment business: receipts).
1218“Company with investment business” and “investment business”
(1)
In this Part “company with investment business” means a company whose business consists wholly or partly of making investments.
(2)
But a credit union is not a company with investment business for the purposes of this Part.
(3)
References in this Part to a company’s investment business are to be construed in accordance with section 1219(2).
But this subsection does not affect the interpretation of the expression “company with investment business”.