376(1) Subject to subsection (2) below, an individual is a qualifying borrower with respect to the interest on any loan.
376(2) In relation to interest paid at a time when the borrower or the borrower's husband or wife holds an office or employment which would, but for some special exemption or immunity from tax, be a taxable employment under Part 2 of ITEPA 2003 (as defined by section 66(3) of that Act), the borrower is not a qualifying borrower.
376(3) In subsection (2) above references to the borrower's husband or wife do not include references to a separated husband or wife.
376(4) The following bodies are qualifying lenders:
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