# Income Tax Act 2007, Section 809AZE: Exception: transfer by way of security

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

(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.

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/809AZE (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-809AZE
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.