{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-1114",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-1114.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/1114",
  "kind": "section",
  "number": "1114",
  "heading": "“In respect of securities”",
  "text": "(1) In this Part “in respect of securities of the company”, in relation to a company which is a member of a 90% group, means in respect of securities of—\n(a) that company, or\n(b) any other company in the group.\n(2) Nothing in subsection (1) requires a company to be treated as making a distribution to any company which is in the same group and is UK resident.\n(3) For the purposes of this Part, except where the context otherwise requires—\n(a) interest paid by a company on money advanced without the issue of a security for the advance, or\n(b) other consideration given by a company for the use of money so advanced,\nis treated as if paid, or given, in respect of a security issued for the advance by the company.\n(4) For the purposes of this Part a thing is regarded as done in respect of a security if it is done to a person—\n(a) as the holder of the security, or\n(b) as the person who held the security at a particular time.\n(5) For the purposes of this Part a thing is also regarded as done in respect of a security if it is done in pursuance of a right granted, or an offer made, in respect of a security.\n(6) In this section “90% group” means a company and all its 90% subsidiaries.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/1114",
    "retrieved_at": "2026-10-29T09:10:29.433154+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."
}