Section 257BD — Income Tax Act 2007: The no linked loan requirement
Text of the provision Official document
The no linked loan requirement 257BD 1 No linked loan is to be made by any person, at any time in period A, to the investor or an associate of the investor.
2 In this section “ linked loan ” means any loan which—
a would not have been made, or b would not have been made on the same terms, if the investor had not subscribed for the relevant shares, or had not been proposing to do so.
3 References in this section to the making by any person of a loan to the investor or an associate of the investor include a reference—
a to the giving by that person of any credit to the investor or any associate of the investor, and b to the assignment to that person of a debt due from the investor or any associate of the investor.
Official source: legislation.gov.uk
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