{
  "url": "https://openlegislation.uk/income-tax-act-2007/section-401",
  "json_url": "https://openlegislation.uk/income-tax-act-2007/section-401.json",
  "legislation": "ukpga/2007/3",
  "legislation_title": "Income Tax Act 2007",
  "legislation_url": "https://openlegislation.uk/income-tax-act-2007",
  "path": "section/401",
  "kind": "section",
  "number": "401",
  "heading": "Loan to invest in co-operative",
  "text": "(1) This section applies to a loan to an individual that is used in one or more of the ways specified in subsection (2).\n(2) The ways are—\n(a) acquiring shares in a body which is a co-operative,\n(b) lending money to any such body which is used wholly and exclusively for the purposes of the business of that body or of a subsidiary of that body, and\n(c) repaying another loan to which this section applies.\n(3) In this Chapter—\n“co-operative” means a common ownership enterprise or a co-operative enterprise as defined in section 2 of the Industrial Common Ownership Act 1976 (c. 78), and\n“subsidiary”, in relation to a co-operative, has the same meaning as for the purposes of section 2 of that Act.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/3/section/401",
    "retrieved_at": "2026-10-29T09:13:03.599581+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}