67 Deep discount and deep gain securities
Finance Act 1999 (1999 c 16) | Legislation

67  Deep discount and deep gain securities

(1)     In paragraph 19 of Schedule 15 to the Finance Act 1996 (loan relationships: savings and transitional provisions), after sub-paragraph (3) there shall be inserted the following sub-paragraph—

“(3A)     Any income that is treated as arising at the time mentioned in subsection (5) of that section, as it applies by virtue of sub-paragraph (3) above, shall be brought into account as a non-trading credit given for the purposes of this Chapter for the accounting period in which that time falls.”

(2)     In paragraph 20 of that

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