Part 7Derivative contracts

Chapter 5Continuity of treatment on transfers within groups

Introductory

624Introduction to Chapter

(1)

This Chapter makes provision—

(a)

about continuity of treatment in some cases in which a company replaces a member of the same group of companies as a party to a derivative contract, and

(b)

about cases in which the company ceases to be a member of the group.

(2)

For the meaning of references in this Chapter to a company replacing another as a party to a derivative contract, see section 627.

(3)

In this Chapter, references to a company being a member of a group of companies are to be read in accordance with section 170 of TCGA 1992 (interpretation of sections 171 to 181 of that Act: groups).

(4)

For modifications of this Chapter for insurance companies, see section 636.