Modifications etc. (not altering text)
C1Sch. 5AA modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), Sch. 10 para. 8 (with Sch. 10 para. 10); S.I. 2003/120, art. 2, Sch. (with arts. 3, 4 (as amended by S.I. 2003/333, art. 14))
3(1)For the purposes of this Schedule a guaranteed return is produced from one or more disposals of futures or options wherever (taking all the disposals together where there is more than one) risks from fluctuations in the underlying subject matter are so eliminated or reduced as to produce a return from the disposal or disposals—
(a)the amount of which is not, to any significant extent, attributable (otherwise than incidentally) to any such fluctuations; and
(b)which equates, in substance, to the return on an investment of money at interest.
(2)For the purposes of sub-paragraph (1) above the cases where risks from fluctuations in the underlying subject matter are eliminated or reduced shall be deemed to include any case where the main reason, or one of the main reasons, for the choice of that subject matter is—
(a)that there appears to be no risk that it will fluctuate; or
(b)that the risk that it will fluctuate appears to be insignificant.
(3)In this paragraph the references, in relation to a disposal of futures or options, to the underlying subject matter are references to or to the value of the commodities, currencies, shares, stock or securities, interest rates, indices or other matters to which, or to the value of which, those futures or options are referable.