Section 575 Overview of Chapter

(1)

This Chapter makes provision about the contracts to which this Part applies.

(2)

In particular, it—

(a)

contains a definition of “derivative contract” (see section 576),

(b)

contains other definitions (such as “relevant contract”, “option”, “future” and “contract for differences”) which are used in determining whether a contract is a derivative contract (see sections 577 to 583),

(c)

makes provision about cases in which companies are treated as parties to relevant contracts (see sections 584 to 586),

(d)

provides for certain contracts and transactions to be treated as derivative contracts (see sections 587 and 588), and

(e)

provides for certain contracts to be treated as not being derivative contracts because of their underlying subject matter (see sections 589 to 593).

Notes on Part 7

Modifications

C1: Pt. 7 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
C2: Pt. 7 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
C3: Pt. 7 modified by 2007 c. 3, s. 809FZZ(8) (as inserted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2016 (c. 24), s. 37(2))
C4: Pt. 7 modified (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by 2005 c. 5, Sch. A1 para. 35(6) (as inserted by Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 1)