Amendment of Part 9 of Schedule 26
Amendment of paragraph 45I of Schedule 2620
1
Amend paragraph 45I15 (index-linked gilt-edged securities with embedded contracts for differences) as follows.
2
In sub-paragraph (1) for paragraph (a) substitute—
a
the derivative contract is a loan-contract embedded derivative to which the company is treated as party by virtue of a creditor relationship of the company,
3
In sub-paragraph (1)(c) for “equivalent deemed loan relationship” substitute “loan-contract host contract”.
4
In sub-paragraph (1) omit paragraph (d).
5
In sub-paragraph (1)(e) for the words from the beginning to “that section” substitute “the derivative contract is treated by virtue of section 94A(3) of the Finance Act 1996”.
6
In sub-paragraph (3) omit the definition of “the equivalent deemed loan relationship”.