Schedules

SCHEDULE 1Minor and consequential amendments

Part 2Other enactments

Corporation Tax Act 2009 (c. 4)

632

1

Amend section 519 (investment bond arrangements: other provisions) as follows.

2

In subsection (2)—

a

for “section 417 of ICTA (close companies)” substitute “ sections 453 and 454 of CTA 2010 (definitions related to close companies) ”, and

b

for “section 417(1)(d) of that Act” substitute “ section 454(2)(e) of CTA 2010 ”.

3

In subsection (3)—

a

for “Schedule 18 to ICTA” substitute “ Chapter 6 of Part 5 of CTA 2010 ”, and

b

in paragraph (b) for “paragraph 1(5)(b) of that Schedule” substitute “ condition C in section 162(4) of CTA 2010 ”.

4

After subsection (3) insert—

4

Investment bond arrangements are not—

a

a unit trust scheme for the purposes of section 1119 of CTA 2010, or

b

an offshore fund for the purposes of section 354 of TIOPA 2010 so far as relating to corporation tax.