Taxation (International and Other Provisions) Act 2010

This section has no associated Explanatory Notes

273U.K.For section 809AZE (transfers of income streams: exception for transfer by way of security) substitute—

809AZEException: transfer by way of security

(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 5B by section 809BZA,

  • type 2 finance arrangement” has the meaning given for the purposes of Chapter 5B by section 809BZF, and

  • type 3 finance arrangement” has the meaning given for the purposes of Chapter 5B by section 809BZJ.