# Corporation Tax Act 2009, Section 627: Meaning of company replacing another as party to derivative contract


(1) References in this Chapter to one company (“A”) replacing another company (“B”) as a party to a derivative contract include references to A becoming a party to a derivative contract which—
(a) confers rights within subsection (2),
(b) imposes liabilities within subsection (2), or
(c) both confers such rights and imposes such liabilities.
(2) Rights or liabilities are within this subsection if they are equivalent to those of B under a derivative contract to which B has previously ceased to be a party.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/627 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-627
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.