Section 519 — Corporation Tax Act 2009: Investment bond arrangements: other provisions

Investment bond arrangements: other provisions 519 1 A bond-issuer is not a securitisation company for the purposes of section 83 of FA 2005 (application of accounting standards to securitisation companies) unless it is one as a result of arrangements which are not investment bond arrangements.

2 For the purposes of sections 453 and 454 of CTA 2010 (definitions related to close companies) —

a a bond-holder is a loan creditor in respect of the bond-issuer, and b investment bond arrangements must be ignored in the application of section 454(2)(e) of CTA 2010 .

3 For the purposes of Chapter 6 of Part 5 of CTA 2010 (group relief)—

a a bond-holder is a loan creditor in respect of the bond-issuer, and b condition C in section 162(4) of CTA 2010 must be ignored in determining whether a person is an equity holder as a result of investment bond arrangements.

4 Investment bond arrangements are not—

a a unit trust scheme for the purposes of section 1119 of CTA 2010, or b an offshore fund for the purposes of section 354 of TIOPA 2010 so far as relating to corporation tax.