Finance Act 2014
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Change 1
26 Release of debts: stabilisation powers under Banking Act 2009
(1) Section 322 of CTA 2009 (release of debts: cases where credits not required to be brought into account) is amended as follows. (2) In subsection (2), for “condition A, B or C” substitute “ any of conditions A to D ”. (3) After subsection (5) insert— (5A) Condition D is that the liability is released in consequence of the exercise of a stabilisation power under Part 1 of the Banking Act 2009. (4) The amendments made by this section have effect in relation to releases of liabilities on or after 26 November 2013.
26 Release of debts: stabilisation powers under Banking Act 2009
(1) Section 322 of CTA 2009 (release of debts: cases where credits not required to be brought into account) is amended as follows. (2) In subsection (2), for “condition A, B or C” substitute “ any of conditions A to D ”. (3) After subsection (5) insert— (5A) Condition D is that the liability is released in consequence of the exercise of a stabilisation power under Part 1 of the Banking Act 2009. (4) The amendments made by this section have effect in relation to releases of liabilities on or after 26 November 2013.
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