Section 361 Treatment of arrangements comprising more than one class of interest

(1)

This section has effect for the purposes of this Part.

(2)

Where there is more than one class of interest in arrangements (the “main arrangements”)—

(a)

the arrangements relating to each class of interest are to be treated as separate arrangements, and

(b)

the main arrangements are to be disregarded.

(3)

In relation to umbrella arrangements, “class of interest” does not include a part of the umbrella arrangements (but there may be more than one class of interest in a part of umbrella arrangements).

Notes on Part 8

Textual amendments

F1: Word in Pt. 8 heading inserted (retrospective to 5.12.2013) by Finance Act 2014 (c. 26), s. 289(5)(b)(6)