{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-361C",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-361C.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/361C",
  "kind": "section",
  "number": "361C",
  "heading": "The equity-for-debt exception",
  "text": "(1) For the purposes of section 361 the “equity-for-debt exception” applies if the following two conditions are met.\n(2) The first condition is that the acquisition is an arm's length transaction.\n(3) The second condition is that the consideration given by C for the acquisition consists only of—\n(a) shares forming part of the ordinary share capital of C,\n(b) shares forming part of the ordinary share capital of a company connected with C, or\n(c) an entitlement to shares within paragraph (a) or (b).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ss. 361A-361C inserted (with effect in accordance with Sch. 15 para. 3(2) of the amending Act) by Finance Act 2010 (c. 13), Sch. 15 para. 2(5) (with Sch. 15 para. 4)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Pt. 5 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/361C",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}