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Finance Act 1994
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Changes over time for: Section 151
Version Superseded: 24/07/2002
Alternative versions:
- 03/05/1994- Amendment
- 29/04/1996- Amendment
- 29/04/1996
Point in time - 24/07/2002- Amendment
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Point in time view as at 29/04/1996. This version of this provision has been superseded.
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Finance Act 1994, Section 151 is up to date with all changes known to be in force on or before 04 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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151 Provisions which may be included.U.K.
(1)An interest rate contract or option, [F1a currency contract or option or a debt contract or option], may include provision under which the qualifying company—
(a)becomes entitled to a right to receive a payment in consideration of its entering into the contract or option, or
(b)becomes subject to a duty to make a payment in consideration of another person’s entering into the contract or option.
(2)An interest rate contract or option, [F1a currency contract or option or a debt contract or option], may also include provision for all or any of the following—
(a)a payment of a reasonable fee for arranging the contract or option;
(b)a payment of reasonable costs incurred in respect of the contract or option;
(c)a payment for securing, or made in consequence of, the variation or termination of the contract or option; and
(d)a payment by way of compensation for, or made in consequence of, a failure to comply with the contract or option.
Textual Amendments
F1Words in s. 151(1)(2) substituted (29.4.1996 with effect as mentioned in s. 105(1) of the amending Act) by 1996 c. 8, s. 101(4) (with savings etc. in Pt. IV Chapter II (ss. 80-105))
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