# Finance Act 2009, Paragraph 4


(1) The amendments made by paragraphs 2(2) and (3)(c) and 3 apply—
(a) in any case where B becomes insolvent on or after 24 November 2008, and
(b) where L makes an election under this paragraph, in any case where B becomes insolvent in the period beginning on 1 September 2008 and ending on 23 November 2008.
(2) An election under sub-paragraph (1)(b) must relate to all stock lending arrangements in which L is the lender and B is the borrower and must be made—
(a) where L is a company (within the meaning given by section 288(1) of TCGA 1992), no later than the second anniversary of the end of the accounting period of L in which 23 November 2008 falls, and
(b) otherwise, no later than 31 January 2011.
(3) Where section 263CA (inserted by paragraph 3) applies to any case which occurs before a period for which CTA 2009 has effect, the reference in subsection (8) of that section to a relevant non-lending relationship for the purposes of Part 6 of that Act is to be read as a reference to a relationship to which section 100 of FA 1996 applies.

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Source: https://www.legislation.gov.uk/ukpga/2009/10/schedule/13/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2009/schedule-13/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.