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Section 809AZE Exception: transfer by way of securityF1F2

United Kingdom

(1)

This Chapter does not apply if—

(a)

the consideration for the transfer is the advance under a type 1 finance arrangement, and

(b)

the transferor is, or is a member of a partnership which is, the borrower in relation to the arrangement.

(2)

This Chapter does not apply if—

(a)

the consideration for the transfer is the advance under a type 2 finance arrangement or a type 3 finance arrangement, and

(b)

the transferor is a member of the partnership which receives that advance under the arrangement.

(3)

In this section—

  • “type 1 finance arrangement” has the meaning given for the purposes of Chapter 5B by section 809BZA,

  • “type 2 finance arrangement” has the meaning given for the purposes of Chapter 5B by section 809BZF, and

  • “type 3 finance arrangement” has the meaning given for the purposes of Chapter 5B by section 809BZJ.

Annotations

Textual amendments

F1

Pt. 13 Ch. 5A inserted (with effect in accordance with Sch. 25 para. 10 of the amending Act) by Finance Act 2009 (c. 10), Sch. 25 para. 7

F2

S. 809AZE substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 273 (with Sch. 9 paras. 1-9, 22)