654 Sale and repurchase arrangements
Income Tax Act 2007 (2007 c 3) | Legislation

654  Sale and repurchase arrangements

(1)     This section applies for the purposes of sections 655 to 658.

(2)     There is a sale and repurchase arrangement in respect of securities if the securities are transferred under an agreement to sell them and—

(a)     the transferor (“T”) or a person connected with T is required to buy back the securities by the agreement or a related agreement,

(b)     T or a person

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