Statute
Section 26 — Finance Act 2014: Release of debts: stabilisation powers under Banking Act 2009
Text of the provision Official document
Release of debts: stabilisation powers under Banking Act 2009 26 1 Section 322 of CTA 2009 (release of debts: cases where credits not required to be brought into account) is amended as follows.
2 In subsection (2), for “condition A, B or C” substitute “ any of conditions A to D ” .
3 After subsection (5) insert— 5A Condition D is that the liability is released in consequence of the exercise of a stabilisation power under Part 1 of the Banking Act 2009.
4 The amendments made by this section have effect in relation to releases of liabilities on or after 26 November 2013.
Official source: legislation.gov.uk
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