Article 20 Amendment of paragraph 45I of Schedule 26

Amend paragraph 45I^f1 (index-linked gilt-edged securities with embedded contracts for differences) as follows.

In sub-paragraph (1) for paragraph (a) 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,”.

In sub-paragraph (1)(c) for “equivalent deemed loan relationship” substitute “loan-contract host contract”.

In sub-paragraph (1) omit paragraph (d).

In sub-paragraph (1)(e) for the words from the beginning to “that section” substitute “the derivative contract is treated by virtue of section 94A(3) of the Finance Act 1996”.

In sub-paragraph (3) omit the definition of “the equivalent deemed loan relationship”.