In section 126 of the Finance Act 19932 after subsection (5) there shall be added—

“(6)

Subsection (7) below applies where—

(a)

under a contract a qualifying company becomes entitled to a right and subject to a duty to receive or make a payment at a specified time, and

(b)

the amount of the payment (in whatever currency) is computed in such a way as to be equal to the amount of the payment referred to in subsection (1A) above which would have fallen to be computed if—

(i)

the qualifying company had been entitled and subject as mentioned in subsection (1) above, and

(ii)

a payment such as is referred to in subsection (1A) above were to be made to or by the qualifying company.

(7)

For the purposes of this Chapter—

(a)

the qualifying company shall be deemed to have become entitled and subject as mentioned in subsection (1) above under the contract referred to in subsection (6) above;

(b)

the payment made under the contract shall be treated as if it were a payment falling within subsection (1A) above in the exercise and discharge of the rights and duties to which the qualifying company is deemed to have become entitled and subject by virtue of paragraph (a) above.”.