Part 16

Factoring of income etc
Chapter 2

Finance arrangements

Exceptions

Exceptions: relevant person
772
1
This section defines a relevant person for the purposes of section 771.
2
If (apart from sections 771 and 773) sections 758 to 762 would apply, each of the following is a relevant person—
a
the borrower, and
b
a person connected with the borrower or (if the borrower is a partnership) a member of the partnership.
3
If (apart from sections 771 and 773) sections 763 to 766 would apply, the transferor is a relevant person.
4
If (apart from sections 771 and 773) sections 767 to 769 would apply, a relevant member as there defined is a relevant person.
5
For the purposes of subsection (2)(b) the persons connected with the borrower include any persons who under section 1122 (meaning of “connected”) are connected with the borrower.
Pt. 16 Ch. 2 restricted by Finance Act 2004 (c. 12), s. 196G(2)(3) (as inserted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2012 (c. 14), Sch. 13 para. 1 (with Sch. 13 Pt. 2))
Pt. 16 Ch. 2 restricted by Finance Act 2004 (c. 12), s. 196I(5)(6) (as inserted (with effect in accordance with Sch. 13 para. 17 of the amending Act) by Finance Act 2012 (c. 14), Sch. 13 para. 15 (with Sch. 13 Pt. 4))