2013 No. 2781
The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations 2013
Made
Laid before the House of Commons
Coming into force
The Treasury make the following Regulations in exercise of the powers conferred by sections 328(4) and 606(4) of the Corporation Tax Act 20091.
Citation, commencement and effect1
1
These Regulations may be cited as the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations 2013 and come into force on 21st November 2013.
2
These Regulations have effect in relation to loan relationships and derivative contracts entered into on or after that date.
Amendments to the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 20042
1
The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 20042 are amended as follows.
2
3
In regulations 3(5) and 4(4A), for “of any share capital of the company” substitute—
of—
a
any share capital of the company,
b
in relation to a building society, any deferred shares issued by the building society to the extent that they are accounted for as equity instruments in accordance with generally accepted accounting practice, or
c
any Additional Tier 1 instrument issued by the company to the extent that it is accounted for as an equity instrument in accordance with generally accepted accounting practice.
(This note is not part of the Regulations)