# Income Tax (Trading and Other Income) Act 2005, Paragraph 491


(1) Amend Schedule 15 (loan relationships: savings and transitional provisions) as follows.
(2) In paragraph 26(2) for the definition of “relevant discounted security” substitute—
““deeply discounted security” has the same meaning as in Chapter 8 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (see section 430)”.
(3) In paragraph 28(b) for “Schedule 13 to this Act” and “relevant” substitute respectively “ Chapter 8 of Part 4 of the Income Tax (Trading and Other Income) Act 2005 (profits from deeply discounted securities) ” and “ deeply ”.
(4) In paragraph 30(1)(c) for “relevant” substitute “ deeply ”.

---
Source: https://www.legislation.gov.uk/ukpga/2005/5/schedule/1/paragraph/491 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/schedule-1/paragraph-491
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.