- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
18(1)Where this paragraph applies in relation to the quasi-loan—
(a)paragraphs 15 and 16 do not apply in relation to the quasi-loan, and
(b)sub-paragraphs (2) to (5) apply for the purposes of calculating the amount of the quasi-loan that is outstanding at the time P is treated as taking the relevant step.
(2)The initial debt amount, in relation to the quasi-loan, is an amount equal to the total of—
(a)the value in sterling, at the reference date, of the acquired debt, and
(b)the value in sterling, at the reference date, of any additional debt.
(3)The “reference date”—
(a)in relation to a right within sub-paragraph (2)(a), means the date on which P acquires it, and
(b)in relation to a right within sub-paragraph (2)(b), means the date on which P acquires it.
(4)The repayment amount, in relation to the quasi-loan, is an amount equal to the total of—
(a)the amount of the initial debt amount that has been repaid in sterling, and
(b)where payments are made, in a currency other than sterling, by way of repayment of the initial debt amount, the amount equal to the sterling value of the payments.
(5)The “sterling value” of a payment is its value in sterling on the date it is made.
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