{
  "url": "https://openlegislation.uk/exchange-gains-and-losses-miscellaneous-modifications-regulations-2000/regulation-3",
  "json_url": "https://openlegislation.uk/exchange-gains-and-losses-miscellaneous-modifications-regulations-2000/regulation-3.json",
  "legislation": "uksi/2000/3315",
  "legislation_title": "The Exchange Gains and Losses (Miscellaneous Modifications) Regulations 2000",
  "legislation_url": "https://openlegislation.uk/exchange-gains-and-losses-miscellaneous-modifications-regulations-2000",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Modification of the Exchange Gains and Losses (Transitional Provisions) Regulations 1994",
  "text": "(1) In regulation 17(1) for “This Part” substitute “Subject to paragraph (1A) below, this Part”.\n(2) After regulation 17(1) insert—\n“(1A) In any case where—\n(a) the debt to which the asset or liability relates is denominated in sterling, and\n(b) a currency other than sterling was not used in making the calculations required by this Part for every accrual period prior to the first for which sections 105 and 106 of the Finance Act 2000 have effect,\nthe calculations which would otherwise be required by this Part shall not be made for accrual periods for which those sections have effect but instead the exchange gain or loss as respects the asset or liability for each such accrual period shall be calculated as if the asset or liability was first held or owed by the company immediately after its commencement day.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Amended by S.I. 1995/408, regulation 2."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2000/3315/regulation/3",
    "retrieved_at": "2026-10-29T08:08:32.891280+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."
}