240Debt instruments treated as equityU.K.
This section has no associated Explanatory Notes
(1)A scheme is a deduction scheme if it includes a debt instrument issued by a company that is treated as equity in the company under generally accepted accounting practice.
(2)In this section “debt instrument” means an instrument issued by a company that—
(a)represents a loan relationship of the company, or
(b)would do so if the company were UK resident.