Section 335 — Corporation Tax Act 2009: Introduction to Chapter

Introduction to Chapter 335 1 This Chapter applies in the cases mentioned in—

a section 336 (transfers of loans on group transactions),

b section 337 (transfers of loans on insurance business transfers),

and c section 339 (issues of new securities on certain cross-border reorganisations).

2 The following sections make provision about how the credits and debits to be brought into account under this Part in those cases are determined—

a sections 340 and 341 (which apply in the cases mentioned in sections 336 and 337),

and b sections 342 and 343 (which apply in the case mentioned in section 339).

3 Sections 344 to 346 provide for the treatment of a loan relationship in respect of which section 336 has applied where the company replacing another as a party to a loan relationship later leaves the group of companies of which they were members.

4 Section 347 (disapplication of Chapter where transferor party to avoidance involving subsequent transfer by transferee) disapplies this Chapter in some circumstances in the cases mentioned in 336 and 337.

5 For the meaning of references in this Chapter to a company replacing another as a party to a loan relationship, see section 338.

6 In this Chapter references to a company being a member of a group of companies are to be read in accordance with section 170 of TCGA 1992 (interpretation of sections 171 to 181 of that Act: groups).