Part 16Factoring of income etc
Chapter 2Finance arrangements
Exceptions
772Exceptions: relevant person
(1)
This section defines a relevant person for the purposes of section 771.
(2)
If (apart from sections 771 and 773) sections 758 to 762 would apply, each of the following is a relevant person—
(a)
the borrower, and
(b)
a person connected with the borrower or (if the borrower is a partnership) a member of the partnership.
(3)
If (apart from sections 771 and 773) sections 763 to 766 would apply, the transferor is a relevant person.
(4)
If (apart from sections 771 and 773) sections 767 to 769 would apply, a relevant member as there defined is a relevant person.
(5)
For the purposes of subsection (2)(b) the persons connected with the borrower include any persons who under section 1122 (meaning of “connected”) are connected with the borrower.