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Changes over time for: Paragraph 5
Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Version Superseded: 16/03/2005
Status:
Point in time view as at 02/12/2004. This version of this provision has been superseded.
Status
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Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 5.
Changes to Legislation
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Qualified exclusion: contract held by company for purposes of tradeU.K.
5(1)Paragraph 4 does not prevent a relevant contract to which this paragraph applies from being a derivative contract.
(2)This paragraph applies to a relevant contract of a company if—
(a)it is entered into or acquired by the company for the purposes of a trade carried on by it, and
(b)its underlying subject matter consists, or is treated as consisting, wholly of—
(i)shares in a company, [or]
(ii)rights of a unit holder under a unit trust scheme...
(iii). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Paragraph 9 applies for the purpose of determining whether the underlying subject matter of a relevant contract is to be treated as consisting wholly of the property referred to in sub-paragraph (2)(b).
Yn ôl i’r brig