Version Superseded: 17/09/2004
Point in time view as at 24/07/2002. This version of this provision has been superseded.
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 5.
5(1)Paragraph 4 does not prevent a relevant contract to which this paragraph applies from being a derivative contract.
(2)This paragraph applies to a relevant contract of a company if—
(a)it is entered into or acquired by the company for the purposes of a trade carried on by it, and
(b)its underlying subject matter consists, or is treated as consisting, wholly of—
(i)shares in a company,
(ii)rights of a unit holder under a unit trust scheme, or
(iii)assets representing a loan relationship to which either section 92 or 93 of the Finance Act 1996 applies.
(3)Paragraph 9 applies for the purpose of determining whether the underlying subject matter of a relevant contract is to be treated as consisting wholly of the property referred to in sub-paragraph (2)(b).
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
