Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 24 U.K. Disguised interest

Repeals U.K.

8 U.K. In consequence of the amendments made by this Schedule, omit—

(a) in ICTA—

(i) section 736C (deemed interest: cash collateral under stock lending arrangement), and

(ii) section 736D (quasi-stock lending arrangements and quasi-cash collateral),

(b) in FA 2004, sections 131 to 133 (companies in partnership), and

(c) in CTA 2009—

(i) Chapter 7 of Part 6 (shares with guaranteed returns etc),

(ii) Chapter 8 of that Part (returns from partnerships), and

(iii) section 547 (repo under arrangement designed to produce quasi-interest: tax avoidance).

9 U.K. Omit the following provisions (which relate to the provisions repealed by paragraph 8)—

(a) in ICTA, sections 736B(4) and 807A(2B),

(b) in TCGA 1992, section 171(3A),

(c) in F(No.2)A 2005, in Schedule 7, paragraphs 5 and 9,

(d) in FA 2006, in Schedule 6, paragraphs 3 and 4,

(e) in ITA 2007, in Schedule 1, paragraphs 172 and 373, and

(f) in CTA 2009, in Schedule 1, paragraphs 215 and 571.

10 U.K. In section 542(2) of CTA 2009 (introduction to Chapter 10 of Part 6), for “547” substitute “ 546 ”.