# Finance (No. 2) Act 2023, Paragraph 14: Disposal of derivatives where underlying subject matter is shares

Extent: E+W+S+N.I.

(1) In paragraph 53 (no chargeable gain on disposal of overseas land or certain shares), in sub-paragraph (4), at the appropriate place insert—
““derivative contract” means—
(a) a derivative contract within the meaning of Part 7 of CTA 2009 (see section 576 of that Act), or
(b) a contract which is not a derivative contract within the meaning of that Part only as a result of section 589(2)(b) of that Act (general exclusion of contracts whose underlying subject matter consists of shares);”.
(2) That paragraph has effect, and is to be deemed always to have had effect, with the amendment made by sub-paragraph (1).

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Source: https://www.legislation.gov.uk/ukpga/2023/30/schedule/4/paragraph/14 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/schedule-4/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.