Explanatory Notes

Corporation Tax Act 2009

2009 CHAPTER 4

26 March 2009

Commentary on Sections

Part 6: Relationships treated as loan relationships etc

Overview

Chapter 7: Shares with guaranteed returns etc
Overview
Section 522: Introduction to Chapter

1419.This section sets out what the Chapter does, how it is arranged and some useful cross-references. It is based on sections 91A(1), (10) and (11), 91B(1), (7) and (8), 91C(7), 91D(13) and 91E(4) of FA 1996.

1420.Subsection (6) provides that the full definition of “share” in section 476 does not apply for the purposes of this Chapter. The part of the definition that does apply to this Chapter is that the meaning of “share” does not include a share in a building society.