The statutory provisions1 relating to charge to tax in cases of loans to participators2 do not apply to a loan or advance made the ordinary course of a business carried on by a company if the business includes the lending of money, nor do they apply to a loan or advance made to a trustee of a charitable trust if the loan or advance is applied to the purposes of the charitable trust only3.
The statutory provisions4 relating to charge to tax in cases of loans to participators also do not apply to a loan or advance made to a
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