# The Finance Act 2002, Schedule 26, (Parts 2 and 9) (Amendment) Order 2006, Article 13: Amendment of paragraph 45D of Schedule 26


(1) Amend paragraph 45D (creditor relationships: embedded derivatives which are options) as follows.
(2) In sub-paragraph (1) for paragraphs (a) to (c) substitute—
“(a) the derivative contract is a loan-contract embedded derivative to which the company is treated as party by virtue of a creditor relationship of the company (“the original relationship”),
(b) the derivative contract is treated as an option by virtue of section 94A(3) of the Finance Act 1996,”.
(3) In sub-paragraph (2)(a) for “creditor relationship” substitute “original relationship”.
(4) For sub-paragraph (2)(f) substitute—
“(f) the original asset is not an existing asset.”.
(5) In sub-paragraph (3)(a) for “creditor relationship” substitute “original relationship”.
(6) In sub-paragraph (3A) for “paragraph” substitute “Schedule and Chapter 2 of Part 4 of the Finance Act 1996”.
(7) In sub-paragraph (8) for “creditor relationship” substitute “original relationship”.

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Source: https://www.legislation.gov.uk/uksi/2006/3269/article/13 (the official version)
Page: https://openlegislation.uk/finance-act-2002-schedule-26-parts-2-and-9-amendment-order-2006/article-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.