SCHEDULES

SCHEDULE 7Loan relationships and derivative contracts

PART 1Loan relationships: amendments of Parts 5 and 6 of CTA 2009

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In section 442 (meaning of “unallowable purpose”), after subsection (1) insert—

1A

In subsection (1)(b) “related transaction”, in relation to a loan relationship, includes anything which equates in substance to a disposal or acquisition of the kind mentioned in section 304(1) (as read with section 304(2)).