# Corporation Tax Act 2010, Section 1114: “In respect of securities”


(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—
(a) that company, or
(b) any other company in the group.
(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.
(3) For the purposes of this Part, except where the context otherwise requires—
(a) interest paid by a company on money advanced without the issue of a security for the advance, or
(b) other consideration given by a company for the use of money so advanced,
is treated as if paid, or given, in respect of a security issued for the advance by the company.
(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—
(a) as the holder of the security, or
(b) as the person who held the security at a particular time.
(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.
(6) In this section “90% group” means a company and all its 90% subsidiaries.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/1114 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-1114
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.