# The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Paragraph 95: Financial instruments


For the purposes of this Schedule, references to “derivatives” include commodity-based contracts that give either contracting party the right to settle in cash or in some other financial instrument, except when such contracts—
(a) were entered into for the purpose of, and continue to meet, the company’s expected purchase, sale or usage requirements,
(b) were designated for such purpose at their inception, and
(c) are expected to be settled by delivery of the commodity.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110806303/schedule/2/paragraph/95 (the official version)
Page: https://openlegislation.uk/draft-large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-2/paragraph-95
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.