Section 870 Other investments

United Kingdom

(1)

An investment with a deposit-taker is not a relevant investment if—

(a)

it is a loan made by a deposit-taker in the ordinary course of its business or activities,

(b)

it is a debt on a security which is listed on a recognised stock exchange, or

(c)

it is a debt on a debenture issued by the deposit-taker (see section 1022).

F1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

F1: S. 870(2) omitted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 6 para. 15

C1: Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)

F1: Pt. 15 Ch. 2 heading substituted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 4

F1: Word in s. 863 cross-heading substituted (with effect in accordance with Sch. 6 para. 28 of the amending Act) by Finance Act 2016 (c. 24), Sch. 6 para. 13