13(1)Paragraph 14 applies in relation to the quasi-loan if—U.K.
(a)the quasi-loan currency is a currency other than sterling, and
(b)it is reasonable to suppose that the main reason, or one of the main reasons, for the quasi-loan being made in that currency is that the quasi-loan currency is expected to depreciate as against sterling during the quasi-loan period.
(2)The “quasi-loan period”, in relation to a quasi-loan, is the period—
(a)beginning at the time the quasi-loan is made, and
(b)ending with the time by which, under the terms of the quasi-loan, the whole of the quasi-loan is to be repaid.