Taxation (International and Other Provisions) Act 2010 section 273A

Meaning of "group securitisation company"

Section 273A defined what was meant by a "group securitisation company" for the purposes of the worldwide debt cap rules in Part 7 of the Act, but this provision has been repealed and replaced by the corporate interest restriction regime.

• Section 273A was part of the worldwide debt cap rules in Part 7 of TIOPA 2010, which limited the amount of tax-deductible financing costs for large groups.
• The section provided a definition of "group securitisation company" — a special purpose entity used within a group to raise finance by securitising assets.
• Part 7, including this section, was repealed by Finance (No. 2) Act 2017 and replaced by the corporate interest restriction rules.
• The repeal takes effect for periods of account of worldwide groups beginning on or after 1 April 2017.