257(1)  This section applies if, under arrangements to which section 503 of CTA 2009 applies, a person (“the first purchaser”) purchases an asset that is sold to another person (“the second purchaser”).

257(2)  This Part has effect in relation to the arrangements in accordance with subsections (3) to (9).

257(3)  The first purchaser is treated as making a loan to the second purchaser.

257(4)  The amount of the loan is treated as being equal to the first purchase price.

257(5)  If the arrangements provide that the first purchaser will transfer ownership of the asset to the second purchaser in instalments–

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