(1)CTA 2010 is amended as follows.
(2)In section 162(2)(c) (meaning of “normal commercial loan”), after “securities in” insert “ a quoted unconnected company (see section 164(2A)) or in ”.
(3)In section 164 (sections 160 and 162: supplementary), in subsection (2)(c), after “securities in” insert “ a quoted unconnected company (see subsection (2A)) or in ”.
(4)After subsection (2) of that section insert—
“(2A)For the purposes of this section and section 162 a company is a quoted unconnected company if (and only if)—
(a)its ordinary shares are listed on a recognised stock exchange, and
(b)it is not connected with the relevant company.”
(5)In subsection (4) of that section—
(a)for “If the candidate company's” substitute “ In the case of a company whose ”, and
(b)for “subsection (3)(c) is” substitute “ subsections (2A)(a) and (3)(c) are ”.
(6)In subsection (5) of that section, for “subsections (3) and (4)” substitute “ this section ”.
(7)The amendments made by this section have effect in relation to loans made on or after 21 March 2012.