# Income and Corporation Taxes Act 1988, Paragraph 1

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

For the purposes of section 161B(1) a loan “on ordinary commercial terms” means a loan—
(a) made by a person (“the lender”) in the ordinary course of a business carried on by him which includes—
(i) the lending of money, or
(ii) the supplying of goods or services on credit, and
(b) in relation to which the requirements of paragraph 2, 3 or 4 below are met.

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