Section 305 — Corporation Tax Act 2009: Payments, interest, rights and liabilities under a loan relationship

Payments, interest, rights and liabilities under a loan relationship 305 1 For the purposes of this Part references to payments or interest under a loan relationship are references to payments or interest paid or payable in pursuance of any of the rights or liabilities under that relationship.

2 For the purposes of this Part references to rights or liabilities under a loan relationship are references to any of the rights or liabilities under the arrangements as a result of which that relationship subsists.

3 For the purposes of this Part rights or liabilities under a loan relationship are taken to include the rights or liabilities attached to any security that is issued in relation to the money debt in question (and so is a security representing that relationship).

4 But for the treatment of funding bonds see—

a section 413 (issue of funding bonds),

and b section 414 (redemption of funding bonds).