Finance Act 1996

78 (1) In subsection (1) of section 177 of that Act (interpretation)—

(a) in the definition of “commencement day”, after the words ““commencement day”” there shall be inserted “—

(a) for the purposes of this Chapter as it has effect in relation to any debt contract or option, means (subject to paragraph 25 of Schedule 15 to the Finance Act 1996) 1st April 1996; and

(b) for all other purposes”;

and

(b) after the definitions of “currency contract” and “currency option” there shall be inserted—

““debt contract” and “debt option” shall be construed in accordance with section 150A above;”.

(2) In subsection (2)(a) of that section (time when company becomes entitled to a contract), for “or a currency contract or option,” there shall be substituted “a currency contract or option or a debt contract or option”.