Regulation 5 Long-term aggregated loan relationship
(1)
A number of finance arrangements are long-term aggregated loan relationships if the following conditions are met.
(2)
The first condition is that the finance arrangements exist between the same two companies.
(3)
The second condition is that there are no repayment terms relating specifically to each separate finance arrangement.
(4)
The third condition is that accounts show the finance arrangements as a single net balance between the companies at all times.
(5)
The fourth condition is that the finance arrangements when taken together do not meet the conditions mentioned in paragraph 62(1) of Schedule 15 to FA 2009.