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Corporation Tax Act 2010

Section 158: Meaning of “equity holder”

626.This section defines “equity holder”. It is based on paragraph 1 of Schedule 18 to ICTA.

627.Subsection (1) establishes that an equity holder may be:

  • a shareholder (but only in relation to “ordinary shares” – see section 160); or

  • a loan creditor (but only in relation to loans that are not “normal commercial loans” – see section 162).

628.Subsection (2) sets out the tests in section 417 of ICTA (also rewritten in section 453) to determine whether a person is a loan creditor of a company.

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