CFM72500 - Other tax rules on corporate finance: securitisation: periods beginning on or after 1 January 2007: the regulations: conditions to be met by securitisation companies
Specified regulations
Regulations 11 and 12 contain conditions that must be met by all 바카라 사이트˜securitisation companies바카라 사이트™ (as defined in Regulations 4 to 10). These are the 바카라 사이트˜payments condition바카라 사이트™ (Regulation 11 - CFM72510) and the 바카라 사이트˜unallowable purposes test바카라 사이트™ (Regulation 12 - CFM72570).
If a company fails to meet these conditions, the special corporation tax charge in Regulation 14 (CFM72580) does not apply to it, nor do the modifications to the corporation tax rules set out in Regulations 15 to 20 and Regulation 23 (CFM72675). A company that fails to meet either the payments condition or the unallowable purposes test will still be a 바카라 사이트˜securitisation company바카라 사이트™ (unless it also falls outside the scope of the definitions in Regulations 4 to 10). But it will not be taxed in accordance with Regulation 14.