Where in any accounting period:
(1) a debtor relationship of a close company1 ('the issuing company') is represented by a deeply discounted security issued by the company2; and
(2) at any time in the period there is a person ('C') who stands in the position of creditor as respects the security and is:
(a) a participator in the issuing company3;
(b) an associate of such a participator4;
(c) a company of which such a participator has control5;
(d) a person who controls a company which is such a participator6;
(e) an associate of a person within head (d)7; or
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