CFM72340 - Other tax rules on corporate finance: securitisation: periods beginning on or after 1 January 2007: the regulations: interpretation
Regulation 2: terms used in the regulations
Regulation 2 provides definitions of terms used in the regulations.
Types of securitisation company
The definitions of the five types of 바카라 사이트˜securitisation company바카라 사이트™ are set out in Regulations 4 to 9 (CFM72370). These are termed as the
- note-issuing company
- asset-holding company
- intermediate borrowing company
- warehouse company
- commercial paper funded company.
Capital market arrangement
Capital market arrangement and capital market investment take their meanings from the Insolvency Act 1986 - see CFM72300.
바카라 사이트˜Independent persons바카라 사이트™
The securities must be issued to 바카라 사이트˜independent persons바카라 사이트™, which draws on the definition of 바카라 사이트˜connected persons바카라 사이트™ in CTA10/S1122. See CFM72390.
바카라 사이트˜Related transaction바카라 사이트™
Regulation 2 also explains the meaning of 바카라 사이트˜related transaction바카라 사이트™. This is relevant to the 바카라 사이트˜unallowable purposes바카라 사이트™ test (see CFM72570) and to the definition of 바카라 사이트˜retained profit바카라 사이트™ (see CFM72480).
바카라 사이트˜Financial assets바카라 사이트™
The assets held by certain of the above types of securitisation company must be 바카라 사이트˜financial assets바카라 사이트™. CFM72350 explains this term.
바카라 사이트˜Specified regulations바카라 사이트™
The 바카라 사이트˜specified regulations바카라 사이트™ are Regulation 14 (the corporation tax charge), 14A (removal of withholding obligation), Regulations 16 to 20 and 22 (which modify certain tax rules). These particular regulations do not apply to securitisation companies in certain circumstances (CFM72500).