Section 755 — Corporation Tax Act 2010: Exception: transfer by way of security

Exception: transfer by way of security 755 1 This Chapter does not apply if—

a the consideration for the transfer is the advance under a type 1 finance arrangement, and b the transferor is, or is a member of a partnership which is, the borrower in relation to the arrangement.

2 This Chapter does not apply if—

a the consideration for the transfer is the advance under a type 2 finance arrangement or a type 3 finance arrangement, and b the transferor is a member of the partnership which receives that advance under the arrangement.

3 In this section— “ type 1 finance arrangement ” has the meaning given for the purposes of Chapter 2 by section 758, “ type 2 finance arrangement ” has the meaning given for the purposes of Chapter 2 by section 763, and “ type 3 finance arrangement ” has the meaning given for the purposes of Chapter 2 by section 767.