Section 476 — Corporation Tax Act 2009: Other definitions

Other definitions 476 1 In this Part— “ accounting policy ”, in relation to a company, means the principles, bases, conventions, rules and practices that the company applies in preparing and presenting its financial statements, “ alternative finance arrangements ” has the meaning given in section 501(2), “ associate ” has the meaning given by section 448 of CTA 2010 , “ collective investment scheme ” has the meaning given by section 235 of FISMA 2000, “ debt ” includes a debt the amount of which is to be ascertained by reference to matters which vary from time to time, “ equity instrument ” has the meaning it has for accounting purposes, “ fair value ” has the meaning it has for accounting purposes, “ gilt-edged securities ” means any securities which— are gilt-edged securities for the purposes of TCGA 1992 (see Schedule 9 to that Act), or will be such securities on the making of any order under paragraph 1 of Schedule 9 to that Act the making of which is anticipated in the prospectus under which they are issued, “ impairment ” includes uncollectability, “ impairment loss ” means a debit in respect of the impairment of a financial asset, “ income statement ” has the meaning it has for accounting purposes, “ international organisation ” has the meaning given in subsection (2) (and also see subsection (3)), “ loan ” includes any advance of money and related expressions are to be read accordingly, “non-trading credit” and “non-trading debit” are to be read in accordance with section 301 (but also see sections 330 and 482(1)), “ profit-sharing arrangements ”, in relation to a firm, has the meaning given in section 1262(4) (allocation of firm's profits or losses between partners), “ release debit ”, in relation to a company, means a debit in respect of a release by the company of a liability under a creditor relationship of the company, “ relevant contract ” has the same meaning as in Part 7 (see section 577), “ share ”, in relation to a company, means any share in the company under which an entitlement to receive distributions may arise (except as provided in section 522(6)), but does not include a share in a building society, “ statement of changes in equity ” has the meaning it has for accounting purposes, “ statement of comprehensive income ” has the meaning it has for accounting purposes, “ statement of income and retained earnings ” has the meaning it has for accounting purposes, “ statement of recognised income and expense ” has the meaning it has for accounting purposes, “ statement of total recognised gains and losses ” has the meaning it has for accounting purposes, “ tax advantage ” , except in the expression “loan-related tax advantage”, has the meaning given by section section 1139 of CTA 2010 , “ this Part ” is to be read in accordance with section 294(2), and “trade” and “purposes of trade” are to be read in accordance with section 298.

2 In this Part “ international organisation ” means an organisation of which—

a two or more sovereign powers are members, or b the governments of two or more sovereign powers are members.

3 If, in any proceedings, any question arises whether a person is an international organisation for the purposes of any provision of this Part, a certificate issued by or under the authority of the Secretary of State stating any fact relevant to that question is conclusive evidence of that fact.