# Energy Act 2004, Paragraph 24

Extent: E+W+S+N.I.

(1) This paragraph applies if, in consequence of a transfer to which this Part of this Schedule applies, the transferee replaces a person as a party to a derivative contract.
(2) Part 7 of the Corporation Tax Act 2009 is to have effect in relation to the time when the transfer takes effect and any later time as if—
(a) the transferee had been a party to the derivative contract at the time when the transferor became a party to it and at all times since that time; and
(b) the derivative contract to which the transferee is a party after the time when the transfer takes effect is the same derivative contract as that to which, by virtue of paragraph (a), it is treated as having been a party before that time.
(3) Expressions used in this paragraph and in Part 7 of the Corporation Tax Act 2009 have the same meanings in this paragraph as in that Part.

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Source: https://www.legislation.gov.uk/ukpga/2004/20/schedule/9/paragraph/24 (the official version)
Page: https://openlegislation.uk/energy-act-2004/schedule-9/paragraph-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.