366 When value is received
Income Tax Act 2007 (2007 c 3) | Legislation

366  When value is received

(1)     For the purposes of this Chapter the investor receives value from the CDFI at any time when the CDFI—

(a)     repays, redeems or repurchases any securities or shares included in the investment,

(b)     releases or waives any liability of the investor to the CDFI or discharges, or undertakes to discharge, any liability of the investor to a third person,

(c)     makes a loan or advance to the investor which has not been repaid in full before the investment is made,

(d)     provides a benefit or facility for the investor or any associate of the investor,

(e)     disposes of an asset to the investor for no consideration or for a consideration of an amount or value which is less than the market value of the asset,

(f)     acquires an asset from the investor for a consideration of an amount or value which

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