39  [Omitted by SI 2014/685, reg. 9(3).]


Reg. 39 omitted by SI 2014/685, reg. 9(3), with effect from transactions entered into on or after 8 April 2014. Former reg. 39 read as follows:


39(1)  For the purposes of regulation 33(c) an investment trust has a loan relationship where the investment trust stands (whether by reference to a security or otherwise) in the position of a creditor or debtor as respects any money debt and either–

(a)that debt is one arising from a transaction for the lending of money, or

(b)that debt is not one which arose from a transaction for the lending of money but is one–

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