Section 772 | Equity holders and profits or assets available for distribution

(1)Chapter 6 of Part 5 of CTA 2010 (group relief: equity holders and profits or assets available for distribution) applies for the purposes of sections 768 and 771.

(2)In that Chapter as it applies for those purposes—

(a)section 158 of CTA 2010 has effect as if after subsection (2) there were inserted—

(2A)But for those purposes a person carrying on a business of banking is not treated as a loan creditor of a company in respect of any loan capital or debt issued or incurred by the company for money lent by the person to the company in the ordinary course of that business.

, and

(b)sections 171(1)(b) and (3), 173, 174 and 176 to 182 of that Act are to be treated as omitted.