Part 2 Derivative Contracts: Amendments of Part 7 of CTA 2009
Finance (No 2) Act 2015 (2015 c 33) | Legislation

Part 2 Derivative Contracts: Amendments of Part 7 of CTA 2009

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Part 7 of CTA 2009 (derivative contracts) is amended as follows.

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In section 594 (overview of Chapter 3 of Part 7), in subsection (2)—

(a)     before paragraph (a) insert—

“(za)     makes provision about the matters in respect of which amounts are to be brought into account (see section 594A),â€, and

(b)     for paragraph (g) substitute—

“(g)     makes provision about cases where amounts are recognised even though companies are not, or have ceased to be, parties to derivative contracts (see section 607A),

(ga)     makes provision about companies moving abroad (see sections 609 and 610), andâ€.

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After section 594 insert—

“Matters in respect of which amounts are to be brought into account

594A Matters in respect of which amounts are to be brought into account

(1)     The matters in respect of which amounts are to be brought into account for the purposes of this Part in respect of a company's derivative contracts are—

(a)     profits and losses of the company which arise to it from its derivative contracts and related transactions (excluding expenses), and

(b)     expenses incurred by the company under or for

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