Section 578 — Corporation Tax Act 2009: Relevant contracts of a company and being party to such contracts

Relevant contracts of a company and being party to such contracts 578 1 For the purposes of this Part, references to a relevant contract of a company are references to a relevant contract entered into or acquired by the company (but see subsection (3)).

2 For the purposes of this Part, a relevant contract is acquired by a company if the company becomes—

a entitled to the rights under the relevant contract, and b subject to the liabilities under it.

3 For particular cases where companies are treated as parties to relevant contracts, see—

a section 584 (hybrid derivatives with embedded derivatives),

b section 585 (loan relationships with embedded derivatives),

and c section 586 (other contracts with embedded derivatives).

4 References in this Part to a company being a party to a relevant contract are to be read in accordance with this section.