20(1)Schedule 10 (loan relationships: collective investment schemes) is amended as follows.
(2)In paragraph 8 (non-qualifying investments test) in sub-paragraph (2) (meaning of “qualifying investments”) after paragraph (d) insert—
“(e)derivative contracts whose underlying subject matter consists wholly of any one or more of the matters referred to in paragraphs (a) to (d) above;
(f)contracts for differences whose underlying subject matter consists wholly of interest rates or creditworthiness or both of those matters.”.
(3)In that paragraph, in sub-paragraph (4) (relevant assumption in a case where a qualifying investment is a qualifying holding) after “within paragraphs (a) to (c)” insert “, (e) and (f)”.
(4)In that paragraph, after sub-paragraph (7D) insert—
“(7E)For the purposes of this paragraph—
“contract for differences” has the same meaning as in paragraph 12 of Schedule 26 to the Finance Act 2002;
“derivative contract” means—
a contract which is a derivative contract within the meaning of that Schedule, or
a contract which is, in the accounting period in question, treated as if it were a derivative contract by virtue of paragraph 36 of that Schedule (contracts relating to holdings in unit trust schemes, open-ended investment companies and offshore funds);
“underlying subject matter” has the same meaning as in paragraph 11 of that Schedule.”.