SCHEDULES
C1C9C3C2C5C4C6C7C8SCHEDULE 26Derivative contracts
Sch. 26 extended (retrospective to 30.9.2002) by Finance Act 2003 (c. 14), s. 177(4)(8)(11)
Sch. 26 applied by 1988 c. 1, s. 440(2B) (as amended (with effect in accordance with s. 52(3) of the amending Act) by Finance Act 2004 (c. 12), Sch. 10 para. 70)
Sch. 26 modified by 1996 c. 8, s. 94A (as inserted (with effect in accordance with s. 52(3) of the amending Act) by Finance Act 2004 (c. 12), Sch. 10 para. 13)
Sch. 26 applied (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 24 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1
Sch. 26 applied (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 12 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1
Sch. 26 modified (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 7; S.I. 2005/1444, art. 2(1), Sch. 1
Sch. 26 modified (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 19; S.I. 2005/1444, art. 2(1), Sch. 1
Sch. 26 modified (19.7.2006) by Finance Act 2006 (c. 25), s. 136(2)(e)
Part 8Insurance and mutual trading companies
41Application of Schedule to insurance and mutual trading companies
1
This Schedule shall apply in relation to insurance and mutual trading companies as it applies in relation to other companies.
2
Sub-paragraph (1) is subject to paragraphs 42 and 43.
42Application of Part 1 of Schedule 11 to the Finance Act 1996
1
Part 1 of Schedule 11 to the Finance Act 1996 (c. 8) (special provision with respect to loan relationships for insurance companies) shall have effect (subject to sub-paragraphs (2) to (4)) in relation to derivative contracts as it has effect in relation to loan relationships.
2
Any provision of that Part of that Schedule which applies only to debtor relationships F1... shall not have effect in relation to derivative contracts for the purposes of sub-paragraph (1).
3
That Part of that Schedule shall have effect in its application in relation to derivative contracts as if—
a
references to Chapter 2 of Part 4 of the Finance Act 1996 were references to this Schedule,
b
references to section 80(5) of that Act were references to paragraph 1(2) of this Schedule,
c
references to section 82(2) of that Act were references to paragraph 14(2) of this Schedule, and
d
references to credits and debits given in respect of a loan relationship by Chapter 2 of Part 4 of that Act were references, respectively, to the credits and debits given in respect of a derivative contract by this Schedule.
F24
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F343
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Sch. 26 modified by 1996 c. 8, s. 86(3C) (as inserted (24.7.2002 with effect as mentioned in s. 82(2) of the amending Act) by 2002 c. 23, s. 82, Sch. 25 Pt. 1 para. 6(3))