# The Finance Act 2002, Schedule 26, Parts 2 and 9 (Amendment No. 2) Order 2004, Article 11: Amendments of Part 9 of Schedule 26


After paragraph 48 insert—
“Embedded derivatives in connected party loans
48A. Where in any accounting period—
(a) a company is party as a creditor to a loan relationship falling within section 94A(1) of the Finance Act 1996, and
(b) the loan relationship is one to which section 87 of that Act applies (accounting methods where parties have a connection),
no loss arising in that period to the company from the derivative contract, or any of the derivative contracts, to which in the case of that loan relationship the company is treated as party by virtue of section 94A(2)(b) of the Finance Act 1996 gives rise to a debit for the purposes of this Schedule.”.

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Source: https://www.legislation.gov.uk/uksi/2004/3270/article/11 (the official version)
Page: https://openlegislation.uk/finance-act-2002-schedule-26-parts-2-and-9-amendment-no-2-order-2004/article-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.