This section has no associated Explanatory Notes
46U.K.In section 441 (loan relationships for unallowable purposes), after subsection (3) insert—
“(3A)If—
(a)a credit brought into account for that period for the purposes of this Part by the company would (in the absence of this section) be reduced, and
(b)the reduction represents an amount which, if it did not reduce a credit, would be brought into account as a debit in respect of that relationship,
subsection (3) applies to the amount of the reduction as if it were an amount that would (in the absence of this section) be brought into account as a debit.”