Corporation Tax Act 2010 section 1166

Scotland

Section 1166 provides interpretative rules that explain how certain legal terms used in the Corporation Tax Acts are to be understood when applied in Scotland, reflecting differences between Scots law and English law.

• When the Corporation Tax Acts refer to an "assignment", this means an assignation in Scots law; an "estate in land" includes the land itself; and "surrender" includes renunciation.
• The term "mortgage" in the Corporation Tax Acts, when applied in Scotland, means either a standard security or a heritable security as defined in the Conveyancing (Scotland) Act 1924, including a security constituted by ex facie absolute disposition or assignation.
• Any reference in the Corporation Tax Acts to property or rights being held "on trust" or "on trusts" is to be read in Scotland as property or rights being held "in trust".
• These interpretative rules ensure that Scottish legal concepts are correctly substituted for their English law equivalents throughout the Corporation Tax Acts.