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Legislation
Income Tax Act 2007

Crossheading Excluded transfers

  • Section 653 Stock lending
  • Section 654 Sale and repurchase arrangements
  • Section 655 Transfers under sale and repurchase arrangements
  • Section 656 Power to modify: non-standard sale and repurchase arrangements
  • Section 657 Power to modify: redemption arrangements
  • Section 658 Powers to modify: supplementary
  1. Excluded transfers
  2. Transfers under sale and repurchase arrangements

Section 655 | Transfers under sale and repurchase arrangements

From legislation.gov.uk

(1)If there is a sale and repurchase arrangement in respect of securities, this Chapter does not apply to the transfer by T or the transfer back under the arrangement.

(2)But subsection (1) does not apply if section 608 prevents section 607 (treatment of price differences under repos) from applying in relation to the arrangement.

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