Commentary on Sections Overview Section 561: Approved charitable loans
1684.This section sets out which loans (not being made by way of investment) count as approved charitable loans for the purposes of the rules restricting exemptions. It is based on Schedule 20 to ICTA.
1685.The label “approved charitable loans” replaces the label “qualifying loans” in section 506(4) of ICTA.
1686.References to “the Board” have been replaced with references to “an officer of Revenue and Customs”. See Change 5 in Annex 1.