Section 577: “Relevant contract”
1515.This section defines the term “relevant contract”. It is based on paragraph 2(2) of Schedule 26 to FA 2002.
1516.In this Part, the term is used to refer generically to a contract within one of the three categories of contract listed here. In many contexts it is immaterial whether the relevant contract is an option, a future or a contract for differences.
1517.See also sections 584 to 586, under which some of the rights and liabilities under a contract are themselves treated as a relevant contract. The deemed relevant contract is a derivative contract if it meets the other conditions in section 576(1).