C1C3C2F1Part 10F1Corporate interest restriction

Annotations:
Amendments (Textual)
F1

Pt. 10: the existing Pt. 10 renumbered as Pt. 11 (except for ss. 375, 376 which are repealed), the existing ss. 372-374, 377-382 renumbered as ss. 499-507 and a new Pt. 10 (ss. 372-498) inserted (with effect in accordance with Sch. 5 para. 25(1)-(3) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 1, 10(1)(2)(a)(3) (with Sch. 5 paras. 27, 32-34)

Modifications etc. (not altering text)
C1

Pt. 10 excluded by 2010 c. 4, s. 937NA (as inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 7)

C3

Pt. 10 excluded by 2010 c. 4, s. 938V(d) (as substituted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 9)

C2

Pt. 10 excluded by 2010 c. 4, s. 938N(e) (as substituted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 8)

F1CHAPTER 8Public infrastructure

Supplementary

449Minor definitions for purposes of this Chapter

1

For the purposes of this Chapter—

  • “balance sheet” means a balance sheet that is drawn up in accordance with generally accepted accounting practice,

  • “financial asset” has the same meaning as it has for accounting purposes,

  • “loan relationships or other financing arrangements” means—

    1. a

      loan relationships,

    2. b

      derivative contracts in relation to which the condition in section 387(4) is met (underlying subject matter to be interest rates etc),

    3. c

      finance leases, or

    4. d

      debt factoring or similar transactions, and

  • “the UK sector of the continental shelf” means the areas designated by Order in Council under section 1(7) of the Continental Shelf Act 1964.

2

For the purposes of this Chapter references to a company which is “associated” with another company at any time are references to companies that are members of the same worldwide group at that time.