# Finance (No. 2) Act 2015, Paragraph 35


(1) Section 361 (acquisition of creditor rights by connected company at undervalue) is amended as follows.
(2) In subsection (1), for paragraph (f) substitute—
“(f) the equity-for-debt exception (see section 361C) does not apply.”
(3) Omit subsection (2).
(4) After subsection (6) insert—
“(7) Subsections (3) and (4) are subject to section 361D (corporate rescue: debt released shortly after acquisition).”

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Source: https://www.legislation.gov.uk/ukpga/2015/33/schedule/7/paragraph/35 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2015/schedule-7/paragraph-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.