# Income and Corporation Taxes Act 1988, Paragraph 7

Extent: E+W+S+N.I.

(1) Deposits with a bank in respect of which interest is payable at a commercial rate.
(2) A deposit mentioned in sub-paragraph (1) above is not a qualifying investment if it is made as part of an arrangement under which a loan is made by the authorised institution to some other person.
(3) In this paragraph “bank” has the meaning given by section 840A.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/20/paragraph/7 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-20/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.