378Loans by trustees of occupational pension schemesU.K.
(1)The case to which this section applies is where—
(a)the loan is one made by trustees of an occupational pension scheme, and
(b)condition A, B or C is met.
(2)Condition A is that there is a time in the actual accrual period when the company which has the debtor relationship (“D”) is the employer of employees to whom the scheme relates.
(3)Condition B is that there is a connection between D and such an employer for the actual accrual period.
(4)Condition C is that a company is such an employer and there is a time in the actual accrual period when—
(a)D has a major interest in that company, or
(b)that company has a major interest in D.
(5)In this section “occupational pension scheme” has the meaning given in section 150(5) of FA 2004.
(6)Section 466 (companies connected for an accounting period) applies for the purposes of this section.