Regulation 2 Interpretation

In these Regulations—

• “derivative contract” has the same meaning as in Schedule 26 to the Finance Act 2002;

• “fair value accounting” has the meaning given in section 103 of the Finance Act 1996;

• “generally accepted accounting practice” has the meaning given in section 50 of the Finance Act 2004^f1;

• “loan relationship” has the same meaning as in Chapter 2 of Part 4 of the Finance Act 1996; and

• “designated”, “fair value”, “available-for-sale” and “fair value hedge” have the same meanings as they have for accounting purposes.