Related Commentary  Related HMRC Manuals

78(1)–(6)  [Repealed by FA 1999, s. 139 and Sch. 20, Pt. V(2).]

78(7)  In this section “loan capital”  means–

(a)any debenture stock, corporation stock or funded debt, by whatever name known, issued by a body corporate or other body of persons (which here includes a local authority and any body whether formed or established in the United Kingdom or elsewhere);

(b)any capital raised by such a body if the capital is borrowed or has the character of borrowed money, and whether it is in the form of stock or any other form;

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