Section 623 — Corporation Tax Act 2010: Meaning of “securitisation company”

Meaning of “securitisation company” 623 1 In this Chapter “ securitisation company ” means a company to which subsection (2) or (6) applies.

2 This subsection applies to a company if—

a conditions A, B and C are met in relation to it, and b it meets such other conditions as the Treasury may specify by regulations.

3 Condition A is that the company is party as debtor to a capital market investment.

4 Condition B is that securities representing that capital market investment are issued.

5 Condition C is that the capital market investment is part of a capital market arrangement.

6 This subsection applies to a company if there is between it and a company to which subsection (2) applies a relationship (direct or indirect) of a description specified by the Treasury by regulations.

7 In this section “ capital market investment ” and “ capital market arrangement ” have the same meaning as in section 72B(1) of the Insolvency Act 1986 (see paragraphs 1, 2 and 3 of Schedule 2A to that Act).