This section applies if a company is the borrower under a stock lending arrangement for the purposes of F1section 812 of CTA 2010 (which treats such a borrower as having made a payment representative of interest for the purposes of this Chapter).

In accordance with F2subsection (3) of that section (which prevents deductions or group relief for the borrower in stock lending cases), the company may not bring debits into account for the purposes of Part 5 F3of this Act in respect of the representative payment which is treated as having been made under F4subsection (2) of that section.