Chapter IIU.K. Interest Rate and Currency Contracts
Modifications etc. (not altering text)
Qualifying contractsU.K.
147 Qualifying contracts.U.K.
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147A Debt contracts and options to be qualifying contracts.U.K.
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148 Contracts which may become qualifying contracts.U.K.
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Interest rate and currency contracts and optionsU.K.
149 Interest rate contracts and options.U.K.
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150 Currency contracts and options.U.K.
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150A Debt contracts and options.U.K.
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151 Provisions which may be included.U.K.
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152 Provisions which may be disregarded.U.K.
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Other basic definitionsU.K.
153 Qualifying payments.U.K.
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154 Qualifying companies.U.K.
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Accrual of profits and lossesU.K.
155 Accrual of profits and losses.U.K.
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156 Basis of accounting: general.U.K.
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157 Basis of accounting for linked currency options.U.K.
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158 Adjustments for changes in basis of accounting.U.K.
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Treatment of profits and lossesU.K.
159 Trading profits and losses.U.K.
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160 Non-trading profits and losses.U.K.
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Special casesU.K.
161 Termination etc. of qualifying contracts.U.K.
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162 Exchange gains and losses on currency contracts.U.K.
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163 Irrecoverable payments.U.K.
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164 Released payments.U.K.
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Anti-avoidance and related provisionsU.K.
165 Transfers of value by qualifying companies.U.K.
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166 Transfers of value to associated companies.U.K.
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167 Transactions not at arm’s length.U.K.
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168 Qualifying contracts with non-residents.U.K.
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168A Qualifying contracts for unallowable purposesU.K.
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MiscellaneousU.K.
169 Insurance and mutual trading companies.U.K.
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170 Investment trusts.U.K.
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171. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
172 Partnerships involving qualifying companies.U.K.
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SupplementalU.K.
173 Prevention of double charging etc.U.K.
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174 Prevention of deduction of tax.U.K.
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175 Transitional provisions.U.K.
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176 Minor and consequential amendments.U.K.
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)In Schedule 27 to that Act (distributing funds) in paragraph 5 (United Kingdom equivalent profits) the following sub-paragraph shall be substituted for sub-paragraph (2A)—
“(2A)In applying sub-paragraph (1) above the effect of the following shall be ignored, namely—
(a)sections 125 to 133 of the Finance Act 1993 (exchange gains and losses), and
(b)sections 159 and 160 of, and paragraph 1 of Schedule 18 to, the Finance Act 1994 (treatment of profits and losses on interest rate and currency contracts).”
177 Interpretation of Chapter II.U.K.
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