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Legislation
Taxation (International and Other Provisions) Act 2010

Crossheading Meaning of certain expressions that first appear in section 147

  • Section 149 “Actual provision” and “affected persons”
  • Section 150 “Transaction” and “series of transactions”
  • Section 151 “Arm's length provision”
  • Section 152 Arm's length provision where actual provision relates to securities
  • Section 153 Arm's length provision where security issued and guarantee given
  • Section 153A Certain guarantees not capable of being arm’s length
  • Section 153B Election for deemed guarantee
  • Section 154 Interpretation of sections 153A and 153B
  • Section 155 “Potential advantage” in relation to United Kingdom taxation
  • Section 156 “Losses” and “profits”
  1. Meaning of certain expressions that first appear in section 147
  2. “Actual provision” and “affected persons”

Section 149 | “Actual provision” and “affected persons”

From legislation.gov.uk

(1)In this Part—

“the actual provision”, and

“the affected persons”,

have the meaning given by section 147(1).

(2)Subsection (1) does not apply if Chapters 1 and 3 to 6 apply in accordance with section 205(2) to (4) (oil-related ring-fence trades) but, in that event, in this Part—

“the actual provision” means the provision mentioned in section 205(1)(b), and

“the affected persons” means the two persons mentioned in section 205(2).

(3)Subsections (1) and (2) are subject to subsection (4).

(4)If the participation condition (see section 148) would not be met but for section 161 or 162 (cases in which actual provision relates, to any extent, to financing arrangements), then in section 147(1)(d), (2)(b), (3), (4)(b) and (5) “the actual provision” is a reference to the actual provision so far as relating to the financing arrangements concerned.

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