(1) Subject to subsection (2), this section shall apply to any interest which is a distribution and is paid by a company in respect of a security of the company within subparagraph (ii), (iii)(I) or (v) of section 130(2)(d), where -
(a) the security in respect of which the interest is paid was issued by the company to another company the ordinary trading activities of which include the lending of money, and
(b) either -
(i) the obligation to pay the interest was entered into before the 9th day of February, 1983, or
(ii) that obligation was entered into before the 9th day of June, 1983, pursuant to negotiations which were in progress on the 9th day of February, 1983;
but an obligation shall be treated for the purposes of paragraph (b) as having been entered into before a particular date only if before that date there was in existence a binding contract in writing under which that obligation arose and, where that contract was subject to the execution of a loan agreement, the loan ag