SCHEDULES
SCHEDULE 2Transitionals and savings
Part 8Loan relationships
Continuity on transfers: transferees becoming party to loan relationship before 9 April 2003
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1
In determining whether Chapter 4 of Part 5 (continuity on transfers within groups or on reorganisations) applies in the case mentioned in section 336 or 337 where the transferee became party to the loan relationship before 9 April 2003, section 338 (meaning of company replacing another as party to loan relationship) applies with the following omissions.
2
In subsection (1) omit paragraphs (b) and (c).
3
In subsection (2) omit “or obligations”.
4
Omit subsections (5) and (6).
5
This paragraph must be read as if it were in Chapter 4 of Part 5.