Part 3Income tax, corporation tax and capital gains tax

Chapter 2Other provisions

Derivative contracts

83Derivative contracts

1

The following shall have effect—

a

Schedule 26 to this Act (which makes provision for the taxation of derivative contracts);

b

Schedule 27 to this Act (which makes minor and consequential amendments relating to the taxation of derivative contracts); and

c

Schedule 28 to this Act (which contains transitional provisions etc in connection with the coming into force of this section and Schedules 26 and 27).

2

Sections 147 to 175 and 177 of the Finance Act 1994 (c. 9) (which make provision for the taxation of interest rate and currency contracts) shall cease to have effect.

3

This section has effect in relation to accounting periods beginning on or after 1st October 2002.

4

Subsection (3) is subject to any specific provision of Schedule 28.