[372B Purchase and resale arrangements]
Income Tax Act 2007 (2007 c 3) | Legislation

[372B  Purchase and resale arrangements]

[(1)     This section applies if, under arrangements to which section 564C applies, a person (“the first purchaser”) purchases an asset that is sold to another person (“the second purchaser”).

(2)     This Part and regulations made under Chapter 2 of this Part have effect in relation to the arrangements in accordance with subsections (3) to (9).

(3)     The first purchaser is treated as making a loan to the second purchaser.

(4)     The amount of the loan is treated as being

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