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The Finance Act 2002, Schedule 26, (Parts 2 and 9) (Amendment) Order 2006
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Amendment of paragraph 45I of Schedule 26
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20.—(1) Amend paragraph 45I(1) (index-linked gilt-edged securities with embedded contracts for differences) as follows.
(2) In sub-paragraph (1) for paragraph (a) substitute—
“(a)the derivative contract is a loan-contract embedded derivative to which the company is treated as party by virtue of a creditor relationship of the company,”.
(3) In sub-paragraph (1)(c) for “equivalent deemed loan relationship” substitute “loan-contract host contract”.
(4) In sub-paragraph (1) omit paragraph (d).
(5) In sub-paragraph (1)(e) for the words from the beginning to “that section” substitute “the derivative contract is treated by virtue of section 94A(3) of the Finance Act 1996”.
(6) In sub-paragraph (3) omit the definition of “the equivalent deemed loan relationship”.
(1)
Paragraph 45I was inserted by article 15 of S.I. 2004/2201.
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