Corporation Tax Act 2009

Valid from 01/04/2009

519Investment bond arrangements: other provisionsU.K.
This section has no associated Explanatory Notes

(1)A bond-issuer is not a securitisation company for the purposes of section 83 of FA 2005 (application of accounting standards to securitisation companies) unless it is one as a result of arrangements which are not investment bond arrangements.

(2)For the purposes of section 417 of ICTA (close companies)—

(a)a bond-holder is a loan creditor in respect of the bond-issuer, and

(b)investment bond arrangements must be ignored in the application of section 417(1)(d) of that Act.

(3)For the purposes of Schedule 18 to ICTA (group relief)—

(a)a bond-holder is a loan creditor in respect of the bond-issuer, and

(b)paragraph 1(5)(b) of that Schedule must be ignored in determining whether a person is an equity holder as a result of investment bond arrangements.