CITM4350 - Alternative Finance Arrangements: Modifying the CITR rules to accommodate AFAs
FA05/s49 arrangements
Where an arrangement falls within FA05/s49, the following table shows how the CITR rules are modified to equate aspects of conventional loans with those of FA05/s49 arrangements.
| Conventional Loan
| FA05/s49 arrangement
|
| Amount of loan
| Amount of money deposited
|
| Loan being drawn down
over a period of time
| Depositing money in
instalments
|
| Date a loan is first
drawn down
| Date the first instalment
is deposited
|
| Amount drawn down
| Value of instalments
deposited
|
| Capital outstanding
| Balance of repayable
deposit
|
| Repayment
| Any repayment of the
deposit
|
| Beneficial owner of the
loan
| Person beneficially
entitled to repayment of the deposit
|
| Disposal of all or part
of a loan
| Disposal of the right to
receive all or part of the deposit
|
