Paragraph 16

(1)

This paragraph applies in relation to the quasi-loan if—

(a)

payments in money are made by way of repayment of the initial debt amount, and

(b)

some or all of the payments are made in a currency other than the quasi-loan currency.

(2)

But this paragraph does not apply if paragraph 18 applies in relation to the quasi-loan.

(3)

For the purposes of calculating the repayment amount in relation to the quasi-loan, the amount of each of the payments referred to in sub-paragraph (1)(b) is an amount equal to its value in the quasi-loan currency on the date it is made.