PART 2Amendment of Part 2 of Schedule 26 to the Finance Act 2002

4

In paragraph 3—

a

for sub-paragraph (1)(b) substitute—

b

in the case of a relevant contract which is not treated as mentioned in paragraph (a), it is a relevant contract to which paragraph 6, 7, or 8 applies, or

b

in sub-paragraph (1)(c) for “is not treated as described in” substitute “does not fall within”;

c

for sub-paragraph (2)(b) substitute—

b

it is a contract for differences whose underlying subject matter is—

i

land (wherever situated),

ii

tangible movable property, other than commodities which are tangible assets,

iii

intangible fixed assets,

iv

weather conditions, and

v

creditworthiness.

d

omit sub-paragraph (4); and

e

in sub-paragraph (5)—

i

for “sub-paragraphs (3) and (4)” substitute “sub-paragraph (3)”; and

ii

in paragraph (b) omit “or financial assets”.