SCHEDULES
SCHEDULE 3Qualifying scheme
Part 3Schemes involving hybrid effect
Debt instruments treated as equity
8
1
A scheme satisfies the requirements of this paragraph if it includes a debt instrument issued by a company that is treated as equity in the company under generally accepted accounting practice.
2
For the purposes of this paragraph, a debt instrument is an instrument issued by a company that represents a loan relationship of the company or, if the company were a company resident in the United Kingdom, would represent a loan relationship of the company.