Corporation Tax Act 2010

755 Exception: transfer by way of security U.K.

(1) This Chapter does not apply if—

(a) the consideration for the transfer is the advance under a type 1 finance arrangement, and

(b) the transferor is, or is a member of a partnership which is, the borrower in relation to the arrangement.

(2) This Chapter does not apply if—

(a) the consideration for the transfer is the advance under a type 2 finance arrangement or a type 3 finance arrangement, and

(b) the transferor is a member of the partnership which receives that advance under the arrangement.

(3) In this section—

• “type 1 finance arrangement” has the meaning given for the purposes of Chapter 2 by section 758,

• “type 2 finance arrangement” has the meaning given for the purposes of Chapter 2 by section 763, and

• “type 3 finance arrangement” has the meaning given for the purposes of Chapter 2 by section 767.