Part 5Loan Relationships
Chapter 4Continuity of treatment on transfers within groups or on reorganisations
Application of this Chapter
335Introduction to Chapter
1
This Chapter applies in the cases mentioned in—
a
section 336 (transfers of loans on group transactions),
b
section 337 (transfers of loans on insurance business transfers), and
c
section 339 (issues of new securities on certain cross-border reorganisations).
2
The following sections make provision about how the credits and debits to be brought into account under this Part in those cases are determined—
a
sections 340 and 341 (which apply in the cases mentioned in sections 336 and 337), and
b
sections 342 and 343 (which apply in the case mentioned in section 339).
3
Sections 344 to 346 provide for the treatment of a loan relationship in respect of which section 336 has applied where the company replacing another as a party to a loan relationship later leaves the group of companies of which they were members.
4
Section 347 (disapplication of Chapter where transferor party to avoidance involving subsequent transfer by transferee) disapplies this Chapter in some circumstances in the cases mentioned in 336 and 337.
5
For the meaning of references in this Chapter to a company replacing another as a party to a loan relationship, see section 338.
6
In this Chapter references to a company being a member of a group of companies are to be read in accordance with section 170 of TCGA 1992 (interpretation of sections 171 to 181 of that Act: groups).