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Corporation Tax Act 2009

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Changes over time for: Section 772

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There are currently no known outstanding effects for the Corporation Tax Act 2009, Section 772. Help about Changes to Legislation

[F1772Equity holders and profits or assets available for distributionU.K.
This section has no associated Explanatory Notes

(1)Chapter 6 of Part 5 of CTA 2010 (group relief: equity holders and profits or assets available for distribution) applies for the purposes of sections 768 and 771.

[F2(2)In that Chapter as it applies for those purposes—

(a)section 158 of CTA 2010 has effect as if after subsection (2) there were inserted—

(2A)But for those purposes a person carrying on a business of banking is not treated as a loan creditor of a company in respect of any loan capital or debt issued or incurred by the company for money lent by the person to the company in the ordinary course of that business., and

(b)sections 171(1)(b) and (3), 173, 174 and 176 to 182 of that Act are to be treated as omitted.]]

Textual Amendments

F1S. 772(1)(2) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 646 (with Sch. 2)

F2S. 772(2) substituted (retrospective and with effect in accordance with art. 1(2) of the amending S.I.) by Corporation Tax Act 2010 (Amendment) Order 2010 (S.I. 2010/2902), arts. 1(1), 3

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