{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-6/paragraph-6",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-6/paragraph-6.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/6/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": "Position of guarantor of affected person's liabilities under a security issued by the person",
  "text": "(1) Section 191 (when sections 192 to 194 apply) is amended as follows.\n(2) In subsection (1)—\n(a) in paragraph (a)—\n(i) for “issuing company” substitute “borrower”, and\n(ii) for the words from “is” to the end substitute “has borrowing liabilities”,\n(b) in paragraph (c)—\n(i) for “issuing company” substitute “borrower”, and\n(ii) for “under the security” substitute “in respect of the borrowing”, and\n(c) for paragraph (d) substitute—\n“(d) the reduction is a result of provision for the guarantee not being regarded as arm’s length in accordance with section 153A (certain guarantees not capable of being arm’s length).”\n(3) Omit subsections (2) to (4).\n(4) In subsection (5)—\n(a) in the definition of “the issuing company”, for “issuing company” substitute “borrower”,\n(b) omit the definition of “the security”, and\n(c) at the appropriate places insert—\n““borrowing”, “guarantee” and “implicit support” have the meanings they have in sections 153A and 153B (see section 154);”\n““the borrowing transaction” means the transaction mentioned in subsection (1)(a);”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/11/schedule/6/paragraph/6",
    "retrieved_at": "2026-10-29T08:42:24.914774+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."
}