# The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations 2007, Regulation 3: Amendment to the Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations 2004


(1) Amend regulation 3C (prescribed debits and credits not brought into account) as follows.
(2) In paragraph (2)—
(a) in sub-paragraph (e)—
(i) after “rate” where it first appears insert “currency, commodity or debt”;
(ii) for “an interest rate risk” substitute “a particular risk”;
(iii) for “6(5)” substitute “6(3A), (5) or (5B)”;
(iv) for the words in paragraph (i) substitute “they offset, or are expected to offset, variability in cash flows attributable to the risk being hedged, and”;
(b) in sub-paragraph (f) for “loan relationships with embedded derivatives” substitute “convertible securities etc: debtor relationships”.

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Source: https://www.legislation.gov.uk/uksi/2007/950/regulation/3 (the official version)
Page: https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-amendment-regulations-2007/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.