# The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations 2005, Regulation 6: Amendment to the Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations 2004


(1) Amend regulation 4 (prescribed debits and credits) as follows.
(2) In paragraph (1) for “the first” substitute “any”.
(3) In paragraph (2) for “any of paragraphs (3), (4), (6) and (7)” substitute “paragraph (3) and (4)”.
(4) In paragraph (3)—
(a) omit the word “ends”; and
(b) omit the last sentence.
(5) For paragraph (4) substitute—
“(4) The debits and credits falling within this paragraph are debits and credits in relation to a derivative contract to which a company is a party where—
(a) the company is treated as party to the contract by section 94A(2)(b) of the Finance Act 1996 and the corresponding loan relationship to which the company is treated as a party by paragraph (b) of that section is one to which paragraph (3) applies; or
(b) the Disregard Regulations do not apply to that contract and there is a hedging relationship between the derivative contract and a hedged item which is a relevant asset or relevant liability.”.
(6) Omit paragraphs (6) and (7).

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Source: https://www.legislation.gov.uk/uksi/2005/3383/regulation/6 (the official version)
Page: https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-amendment-regulations-2005/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.