Section 209(3)

The condition specified in subsection (1)(b) does not of itself prevent a company from making a home loan— if loans of that description are ordinarily made by the company to its employees and the terms of the loan in question are no more favourable than those on which such loans are ordinarily made. to a director of the company or of its holding company, or to an employee of the company,

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Source: legislation.gov.uk · retrieved 2026-09-04