Version Superseded: 22/07/2004
Point in time view as at 01/06/2002. This version of this provision is not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 21.
21(1)This paragraph applies in relation to a contract which is a derivative contract for the purposes of this Schedule by virtue of—
(a)paragraph (contracts producing a guaranteed return),
(b)paragraph (contracts where guaranteed amount payable on maturity), or
(c)paragraph (contracts to provide insurance benefits).
(2)Where this paragraph applies in relation to a derivative contract, the accounting method to be used as respects the derivative contract for an accounting period shall be an authorised mark to market basis of accounting.
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