Statute
Section 392 — Corporation Tax Act 2009: Exclusion of loan relationships of members of Lloyd's
Text of the provision Official document
Exclusion of loan relationships of members of Lloyd's 392 1 This section applies to any loan relationship of a corporate member of Lloyd's.
2 This Part does not apply as respects the relationship so far as rights or liabilities under it or securities representing it are—
a assets forming part of the member's premium trust fund, or b liabilities attached to that fund.
3 In this section “ corporate member ” and “ premium trust fund ” have the same meaning as in Chapter 5 of Part 4 of FA 1994 (Lloyd's underwriters: corporations etc) (see section 230(1) of that Act).
Official source: legislation.gov.uk
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