SCHEDULES
C1SCHEDULE 27Derivative contracts: minor and consequential amendments
19
1
Section 101 (financial instruments) is amended as follows.
2
In subsection (1) (Chapter 2 of Part 4 of Finance Act 1994 not to apply to profit and loss on certain financial instruments brought into account under Chapter 2 of Part 4 of Finance Act 1996)—
a
for “Chapter II of Part IV of the Finance Act 1994 (provisions relating to certain financial instruments)” substitute “
Schedule 26 to the Finance Act 2002 (provisions relating to derivative contracts)
”
,
b
for “in accordance with that Chapter” substitute “
in accordance with that Schedule
”
, and
c
for “a qualifying contract” substitute “
a derivative contract
”
.
3
Omit subsections (2) to (6).
Sch. 27 extended (retrospective to 30.9.2002) by Finance Act 2003 (c. 14), s. 177(4)(8)(11)