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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations correct errors in the Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations 2004 (S.I. 2004/3271: “the principal Regulations”).

Regulation 1 provides for citation, commencement and interpretation.

Regulation 2 makes amendments to regulation 4(7) of the principal Regulations to ensure that it is, as was originally intended, the converse of regulation 4(6) of those Regulations.

These Regulations do not impose new costs on business.