56 Transactions in deposits with and without certificates or in debts
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

56  Transactions in deposits with and without certificates or in debts

(1)     Subsection (2) below applies to the following rights—

(a)     the right to receive the amount, with or without interest, stated in a certificate of deposit;

(b)     the right to receive an amount payable with interest—

(i)     in a transaction in which no certificate of deposit or security is issued, and

(ii)     which is payable by a bank or similar institution or a person regularly engaging in similar transactions;

and the right to receive that interest.

(2)     Profits or gains arising to a [company] from the disposal of a right to which this subsection applies or, except so far as it is a right to receive interest,

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