The Finance Act 2002, Schedule 26, Parts 2 and 9 (Amendment) Order 2004

5.  In paragraph 4—

(a) after sub-paragraph (1) insert—

“(1A) Nothing in this paragraph prevents a relevant contract to which paragraph 6, 7 or 8 applies from being a derivative contract.”;

(b) in sub-paragraph (2)—

(i) omit paragraphs (a) and (b);

(ii) at the end of paragraph (d) add “and”;

(iii) at the end of paragraph (e) omit “and”; and

(iv) omit paragraph (f);

(c) in sub-paragraph (3)—

(i) omit “(a), (b) and”; and

(ii) for “(d) to (f)” substitute “(d) and (e)”; and

(d) in sub-paragraph (5) for “paragraphs 5 to 8” substitute “paragraphs 5 and 5A”.