Section 351 Investor must have beneficial ownership
(1)
The investor must be the sole beneficial owner of the investment when it is made.
(2)
If the investment consists of a loan, the person beneficially entitled to repayment of the loan is treated as the beneficial owner of the loan for the purposes of this Part.
Notes on Part 7
Modifications
- C1
Pt. 7 modified by 2005 c. 7, s. 54A (as inserted (10.7.2008) by The Alternative Finance Arrangements (Community Investment Tax Relief) Order 2008 (S.I. 2008/1821), arts. 1, 2)