»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp meaning of debt on a security has been considered by the Courts a number of times. »Ê¹ÚÌåÓýapp leading case is W T Ramsay Ltd v CIR 54TC101. In that case the House of Lords acknowledged this is a difficult subject. Lord Wilberforce said `Many learned judges have found it baffling both on the statutory wording and as to the underlying policyâ€�. »Ê¹ÚÌåÓýappse instructions approach these problems by looking at the decision in Ramsay and considering what guidance can be drawn from the speeches of Lords Wilberforce and Fraser.