C1C2C3C4C5Part 5Loan Relationships

Annotations:
Modifications etc. (not altering text)
C1

Pt. 5 applied (with effect in accordance with Sch. 24 paras. 13-16 of the amending Act) by Finance Act 2009 (c. 10), Sch. 24 para. 15(2)(3)

C2

Pt. 5 applied (with modifications) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 990(5), 1184(1) (with Sch. 2)

C3

Pt. 5 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 5; S.I. 2012/628, art. 3(b)

C5

Pt. 5 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)

C5Chapter 12Special rules for particular kinds of securities

F1Index-linked gilt-edged securities

Annotations:
Amendments (Textual)
F1

S. 399 cross-heading substituted (with effect in accordance with Sch. 14 para. 8 of the amending Act) by Finance Act 2010 (c. 13), Sch. 14 para. 3 (with Sch. 14 para. 9)

399C5F2Basic rules

1

This section applies if a loan relationship is represented by an index-linked gilt-edged security.

2

The amounts to be brought into account for the purposes of this Part are to be determined using fair value accounting.

F33

For provision requiring adjustments to be made to amounts determined under subsection (2), see sections 400 to 400C (adjustments for changes in index).

F44

In this section and sections 400 to 400C—

  • “index-linked gilt-edged securities” means any gilt-edged securities under which the amounts of the payments are determined wholly or partly by reference to an index of prices published by the Statistics Board;

  • “relevant prices index”, in relation to an index-linked gilt-edged security, means the index of prices by reference to which the amounts of the payments under the security are wholly or partly determined.

5

For the meaning of “gilt-edged securities”, see section 476(1).

F56

In the case of insurance companies, the application of sections 400 to 400C is subject to section 112 of FA 2012.