[372D Profit share agency arrangements]
Income Tax Act 2007 (2007 c 3) | Legislation

[372D  Profit share agency arrangements]

[(1)     This section applies if, under arrangements to which section 564F applies, a person (“the principal”) appoints a financial institution as agent.

(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 principal is treated as making a loan to the agent.

(4)     The amount of the loan is treated as

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