Sch 5 para 33
(1) Section 415 (qualifying net group-interest expense: interpretation) is amended as follows. (2) In subsection (1) for paragraph (b) substitute— (b) either— (i) the condition in subsection (1A) is met, or (ii) any of the conditions in subsection (2) is met in relation to the guarantee, indemnity or other financial assistance in question”. (3) After subsection (1) insert— (1A) The condition is that— (a) the member in question is a company that has not been UK resident at any time before 29 October 2018, (b) the financial assistance in question is provided before that date, and (c) the financial assistance in question is in respect of a loan relationship, derivative contract or relevant arrangement or transaction (within the meaning of section 382(4)) to which the member in question is a party for the purposes of its UK property business.