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Legislation
Corporation Tax Act 2010

Crossheading Exceptions to section 1008

  • Section 1009 Securities reflecting dividends on certain shares etc: exclusion of section 1008
  • Section 1010 Meaning of “qualifying index” in section 1009
  • Section 1011 Meaning of “associated company” in section 1009
  • Section 1012 Hedging arrangements
  • Section 1013 Exception to section 1012
  • Section 1014 Meaning of “hedging arrangements”
  1. Exceptions to section 1008
  2. Hedging arrangements

Section 1012 | Hedging arrangements

From legislation.gov.uk

(1)Section 1008 does not at a given time apply in relation to a security issued by a company (“the issuing company”) if—

(a)at that time, or

(b)at any earlier time after 16 April 2002,

there are or have been any hedging arrangements that relate to some or all of the company's liabilities under the security.This is subject to section 1013.

(2)If, as a result of this section, section 1008 stops applying at any time in relation to a security, paragraph E in paragraph 1000(1) has effect in relation to the security from that time as it would have had effect if section 1008 had never applied in relation to the security.

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