PART 2 Amendment 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”.