# Income Tax Act 2007, Paragraph 94


Section 395(2) does not apply in relation to a loan made before 26 July 1989, and, for the purposes of that section, section 550 of ITEPA 2003 (which defines “employee benefit trust” and is applied for the purposes of section 395 by section 395(6)) has effect as if section 550 of ITEPA 2003 referred to that day instead of 13 March 1989.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/schedule/2/paragraph/94 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/schedule-2/paragraph-94
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.