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15. (1) Amend paragraph 45F as follows.
(2) After sub-paragraph (2)(e) insert—
“(f)the asset representing the creditor relationship is not an existing asset.”.
(3) In sub-paragraph (7) after “this paragraph” insert—
““existing asset” means an asset in relation to which paragraph 11(2) of Schedule 10 to the Finance Act 2004 has effect;”.
(4) For sub-paragraph (8) substitute—
“(8) The creditor relationship shall not be treated as a qualifying corporate bond by virtue of section 117(A1) of the Taxation of Chargeable Gains Act 1992.”.
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