New Schedule 1
Crossrail Bill
6:00 pm
Continuity in relation to loan relationships
14 (1) For the purposes of the application of Chapter 2 of Part 4 of FA 1996 (loan relationships) in relation to a relevant transfer, the transferee and the transferor are to be treated as if, at the time of the transfer, they were members of the same group.
(2) In sub-paragraph (1) the reference to being members of the same group must be construed in accordance with paragraph 12(8) of Schedule 9 to that Act.