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The Exchange Gains and Losses (Alternative Method of Calculation of Gain or Loss) Regulations 1994
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- 1994 No. 3227
- Transactions not at arm’s length
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Transactions not at arm’s length
Disregard of regulations 2 and 4 to 11
12.—(1) For the purposes of section 136(11) of the 1993 Act—
(a)the question whether an appropriate exchange gain accrues to a company as mentioned in paragraph (d) of that subsection, and
(b)the amount of any such gain,
shall be determined as if regulations 2 and 4 to 11 were not and never had been in force.
(2) For the purposes of section 136A(9)(1) of the 1993 Act—
(a)the question whether an appropriate exchange gain accrues to a company as mentioned in paragraph (d) of that subsection, and
(b)the amount of any such gain,
shall be determined as if regulations 2 and 4 to 11 were not and never had been in force.
(1)
Section 136A was inserted by regulation 2 of S.I. 1994/3232.
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