# Finance Act 2011, Paragraph 7


(1) Omit sections 418 to 419 of CTA 2009 (loan relationships treated differently by connected debtor and creditor).
(2) In consequence of the repeals made by sub-paragraph (1), omit—
(a) in section 748ZA of ICTA (as inserted by paragraph 5 of Schedule 12 to this Act), subsection (5)(a),
(b) in Schedule 30 to FA 2009, paragraph 4,
(c) in section 416 of CTA 2009, subsection (4),
(d) in Schedule 1 to CTA 2010, paragraph 615, and
(e) section 29 of this Act.
(3) The repeals made by this paragraph have effect in relation to loan relationships to which a company is a party (or to which it is treated as a party under section 418(6A) of CTA 2009) on or after the commencement date.
(4) But amounts are to continue to be brought into account for the purposes of Part 5 of CTA 2009 disregarding the repeals made by sub-paragraph (1) if the amounts relate to a time before the commencement date; and the repeals made by sub-paragraph (2) have effect accordingly.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/5/paragraph/7 (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-5/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.