Corporation Tax Act 2009 section 709

"Securities house"

Section 709 defines the term "securities house" as used throughout this Part of the Act.

  • A securities house is a person who meets two specific conditions relating to authorisation and business activity.
  • The person must be authorised under the Financial Services and Markets Act 2000 (FISMA 2000).
  • The person's business must consist wholly or mainly of dealing as a principal in financial instruments, as defined in section 984 of the Income Tax Act 2007.
  • Both conditions must be satisfied simultaneously for the person to qualify as a securities house.

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