SCHEDULES
SCHEDULE 7Loan relationships and derivative contracts
PART 1Loan relationships: amendments of Parts 5 and 6 of CTA 2009
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(1)
Section 424 (reorganisations involving loan relationships) is amended as follows.
(2)
In subsection (3), for “its carrying value in” substitute “
its tax-adjusted carrying value based on
”
.
(3)
In subsection (4), omit the definition of “carrying value”.