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Legislation
Corporation Tax Act 2009

Crossheading Exclusion of loan relationships of members of Lloyd's

  • Section 392 Exclusion of loan relationships of members of Lloyd's
  1. Exclusion of loan relationships of members of Lloyd's
  2. Exclusion of loan relationships of members of Lloyd's

Section 392 | Exclusion of loan relationships of members of Lloyd's

From legislation.gov.uk

(1)This section applies to any loan relationship of a corporate member of Lloyd's.

(2)This Part does not apply as respects the relationship so far as rights or liabilities under it or securities representing it are—

(a)assets forming part of the member's premium trust fund, or

(b)liabilities attached to that fund.

(3)In this section “corporate member” and “premium trust fund” have the same meaning as in Chapter 5 of Part 4 of FA 1994 (Lloyd's underwriters: corporations etc) (see section 230(1) of that Act).

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