Corporation Tax Act 2010

623Meaning of “securitisation company”E+W+S+N.I.

This section has no associated Explanatory Notes

(1)In this Chapter “securitisation company” means a company to which subsection (2) or (6) applies.

(2)This subsection applies to a company if—

(a)conditions A, B and C are met in relation to it, and

(b)it meets such other conditions as the Treasury may specify by regulations.

(3)Condition A is that the company is party as debtor to a capital market investment.

(4)Condition B is that securities representing that capital market investment are issued.

(5)Condition C is that the capital market investment is part of a capital market arrangement.

(6)This subsection applies to a company if there is between it and a company to which subsection (2) applies a relationship (direct or indirect) of a description specified by the Treasury by regulations.

(7)In this section “capital market investment” and “capital market arrangement” have the same meaning as in section 72B(1) of the Insolvency Act 1986 (see paragraphs 1, 2 and 3 of Schedule 2A to that Act).