The denial of relief for asset-backed contributions in the case of ‘complex’ arrangements, described at ¶377-040, will not apply if Condition B is not satisfied. In other words, relief will be available if the arrangement qualifies as an ‘acceptable structured finance arrangement’. In order to so qualify the arrangements have to satisfy four conditions (expressed as conditions M to Q);

(A)This condition is in two parts;

(1) a financial liability in respect of the ‘advance’ is recorded in the partnership’s accounts for the period in which it is received, in accordance with generally accepted accounting practice, and;

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