337 Transfers of loans on insurance business transfers
Corporation Tax Act 2009 (2009 c 4) | Legislation

337  Transfers of loans on insurance business transfers

(1)     The case referred to in section 335(1)(b) is where—

(a)     a transfer between two companies occurs to which this section applies, and

(b)     as a result one of the companies (“the transferee”) directly or indirectly replaces the other (“the transferor”) as a party to a loan relationship.

(2)     This section applies to the transfers specified in subsection (3), so far as they are not excluded by subsection (4).

(3)     They are—

(a)     a transfer between two companies of business consisting of the effecting or carrying out of contracts of long-term insurance which has effect under an insurance business transfer scheme, and

(b)     any transfer between two companies

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