{
  "url": "https://openlegislation.uk/finance-act-1990/schedule-12/paragraph-9",
  "json_url": "https://openlegislation.uk/finance-act-1990/schedule-12/paragraph-9.json",
  "legislation": "ukpga/1990/29",
  "legislation_title": "Finance Act 1990",
  "legislation_url": "https://openlegislation.uk/finance-act-1990",
  "path": "schedule/12/paragraph/9",
  "kind": "paragraph",
  "number": "9",
  "heading": null,
  "text": "(1) Any share issued by the nominated company to the Secretary of State in pursuance of the principal Act shall be treated for the purposes of the Corporation Tax Acts as if it had been issued wholly in consideration of a subscription paid to that company of an amount equal to the nominal value of the share.\n(2) Any debenture issued by the nominated company to the Secretary of State in pursuance of the principal Act shall be treated for the purposes of the Corporation Tax Acts as if it had been issued—\n(a) wholly in consideration of a loan made to that company of an amount equal to the principal sum payable under the debenture; and\n(b) wholly and exclusively for the purposes of the trade carried on by that company.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1990/29/schedule/12/paragraph/9",
    "retrieved_at": "2026-10-29T09:43:04.265975+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."
}