Clause 52
Finance Bill
7:00 pm
Amendment made: No. 85, in clause 52, page 35, line 50, at end insert—
‘(7) For the purposes of section 417 of ICTA (close companies)—
(a) a bond-holder is a loan creditor in respect of the bond-issuer;
(b) arrangements falling within section 48A shall be disregarded in the application of section 417(1)(d).
(8) For the purposes of Schedule 18 to ICTA (group relief)—
(a) a bond-holder is a loan creditor in respect of the bond-issuer;
(b) paragraph 1(5)(b) shall be disregarded in determining whether a person is an equity holder by virtue of arrangements falling within section 48A.”’.—[Ed Balls.]