SCHEDULES

SCHEDULE 15Connected companies: releases of debts

Amendments of section 322 of CTA 2009

1

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 (4), after “release is” insert “ not a release of relevant rights and is ”.

3

After that subsection insert—

4A

Relevant rights” has the same meaning for the purposes of this section as it has for the purposes of section 358.