# The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations 2008, Regulation 4: Amendment of regulation 3A


(1) Regulation 3A (prescribed debits and credits brought into account over prescribed period) is amended as follows.
(2) In paragraph (2) insert at the beginning “Subject to paragraphs (7A) and (7B),”.
(3) In paragraph (5) insert at the beginning “Subject to paragraphs (7A) and (7B),”.
(4) After paragraph (7) insert—
“(7A) To the extent that the applicable amounts (or fractions of applicable amounts) represent debits or credits to which sub-paragraph (ca) or (da) of regulation 3C(2) would apply if those sub-paragraphs had been in force at the time that the debits or credits arose—
(a) those amounts shall not be brought into account under paragraph (2) or (5) in relation to any accounting period beginning on or after 1st January 2009;
(b) the relevant fraction of those amounts shall not be brought into account under paragraph (2) or (5) in relation to any accounting period beginning on or after 1st January 2008 and ending after 31st December 2008.
(7B) In paragraph (7A)(b) the relevant fraction is—
1− A B where—
A is the number of days in the accounting period up to, and including, 31st December 2008, and
B is the total number of days in the accounting period.”.

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Source: https://www.legislation.gov.uk/uksi/2008/3237/regulation/4 (the official version)
Page: https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-amendment-regulations-2008/regulation-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.