(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.