Related Commentary  Related HMRC Manuals

338(1)  References in this Chapter to one company (“A”) replacing another company (“B”) as a party to a loan relationship include references to A becoming a party to a loan relationship which–

(a)confers rights within subsection (2),

(b)imposes obligations within subsection (2), or

(c)both confers such rights and imposes such obligations.

338(2)  Rights or obligations are within this subsection if they are equivalent to those of B under a loan relationship to which B has previously ceased to be a party.

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