SCHEDULES

SCHEDULE 15Connected companies: releases of debts

Amendments of section 322 of CTA 2009

1

(1)

Section 322 of CTA 2009 (release of debts: cases where credits not required to be brought into account) is amended as follows.

(2)

In subsection (4), after “release is” insert “ not a release of relevant rights and is ”.

(3)

After that subsection insert—

“(4A)

Relevant rights” has the same meaning for the purposes of this section as it has for the purposes of section 358.”