(1) Chapter 3 of Part 8 of the Principal Act is amended by inserting the following section after section 250:
(1) In this section -
'distribution' has the same meaning as it has for the purposes of the Corporation Tax Acts by virtue of section 4;
'eligible loan' in relation to an individual and a company, means a loan, being a loan to which section 248 applies, to the individual to defray money applied for any of the purposes specified in that section;
'relevant interest' has the same meaning as in section 269;
'residue of expenditure' shall be construed in accordance with section 277;
'specified amount' in relation to an eligible loan, means the amount of the eligible loan or so much of the eligible loan where the money or, as the case may be, Part of the money which was defrayed by that loan and which was applied by the individual
(a) is used after 1 January 2003 by the company directly or indirectly -
(i) in the acquisition (whether by the company or by any other person) of t
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