preferential loan definition
preferential loan means a loan, in respect of which no interest is payable or interest is payable at a preferential rate, made directly or indirectly to an individual or to the spouse of the individual by a person who in relation to the individual or the spouse is an employer, but does not include any such loan in respect of which interest is payable at a rate that is not less than the rate of interest at which the employer in the course of the employer's trade makes equivalent loans for similar purposes at arm's length to persons other than employees or their spouses;
preferential loan means, in relation to an individual, a loan in respect of which no interest is paid or interest is paid at a preferential rate, made directly or indirectly to an individual or to the spouse or civil partner of the individual by a person who in relation to the individual or the spouse or civil partner is an employer, but does not include any such loan in respect of which interest is paid at a rate that is not less than the rate of interest at which the employer in the course of the employer's trade makes equivalent loans for similar purposes at arm's length to persons other than employees or their spouses or civil partners;
preferential loan means, in relation to an individual, a loan, in respect of which no interest is paid or interest is paid at a preferential rate, made directly or indirectly to the individual…