[361D Corporate rescue: debt released shortly after acquisition]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[361D  Corporate rescue: debt released shortly after acquisition]

[(1)     This section applies if—

(a)     the case is one in which section 361 would otherwise apply,

(b)     within 60 days after C becomes a party to the loan relationship as creditor, C or a company connected with C releases D's liability to pay an amount under the loan relationship, and

(c)     the corporate rescue conditions

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