650Property based total return swapsU.K.
This section has no associated Explanatory Notes
(1)This section applies to a derivative contract of a company for an accounting period if each of conditions A to F is met.
(2)Condition A is that the derivative contract is a contract for differences.
(3)Condition B is that one or more indices are specified in the contract.
(4)Condition C is that at least one index so specified (“the capital value index”) is an index of changes in the value of land.
(5)Condition D is that the underlying subject matter of the derivative contract also includes interest rates.
(6)Condition E is that the company is not a party to the derivative contract at any time in the accounting period for the purposes of a trade carried on by it.
(7)Condition F is that the company is not an excluded body.