{
  "url": "https://openlegislation.uk/currency-contracts-and-options-amendment-of-enactments-order-1994/article-2",
  "json_url": "https://openlegislation.uk/currency-contracts-and-options-amendment-of-enactments-order-1994/article-2.json",
  "legislation": "uksi/1994/3233",
  "legislation_title": "The Currency Contracts and Options (Amendment of Enactments) Order 1994",
  "legislation_url": "https://openlegislation.uk/currency-contracts-and-options-amendment-of-enactments-order-1994",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": null,
  "text": "In section 150 of the Finance Act 1994 after subsection (10) there shall be added—\n“(11) Subsection (12) below applies where—\n(a) under a contract or as a result of the exercise of an option, a qualifying company becomes entitled to a right and subject to a duty to receive or make a payment at a specified time or at the time when the option is exercised, and\n(b) the amount of the payment (in whatever currency) is computed in such a way as to be equal to the amount of the payment referred to in subsection (9) above which would have fallen to be computed if—\n(i) the qualifying company had been entitled and subject as mentioned in subsection (2) or (7) above, and\n(ii) a payment such as is referred to in subsection (9) were to be made to or by the qualifying company.\n(12) For the purposes of this Chapter—\n(a) the qualifying company shall be deemed to have become entitled and subject as mentioned in subsection (2) above under the contract referred to in subsection (11) above or, as the case may be, shall be deemed to have become entitled and subject as mentioned in subsection (7) above as a result of the exercise of the option referred to in subsection (11);\n(b) the payment made under the contract or as a result of the exercise of the option shall be treated as if it were a payment falling within subsection (9) above in the exercise and discharge of the rights and duties to which the qualifying company is deemed to have become entitled and subject by virtue of paragraph (a) above.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/3233/article/2",
    "retrieved_at": "2026-10-29T13:20:02.926496+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}