The Finance Act 2002, Schedule 26, Parts 2 and 9 (Amendment) Order 2004

1. Introductory Text

2. PART 1 Introduction

   1. 1. Citation, commencement and effect

3. PART 2 Amendment of Part 2 of Schedule 26 to the Finance Act 2002

   1. 2. Part 2 of Schedule 26 to the Finance Act 2002...

   2. 3. In paragraph 2, for sub-paragraph (1) substitute—

   3. 4. In paragraph 3— (a) for sub-paragraph (1)(b) substitute—

   4. 5. In paragraph 4— (a) after sub-paragraph (1) insert—

   5. 6. In paragraph 5(2)(b)— (a) at the end of sub-paragraph (i)...

   6. 7. After paragraph 5 insert— Qualified exclusion: embedded derivatives whose underlying...

   7. 8. In paragraph 6— (a) omit sub-paragraph (1);

   8. 9. In paragraph 7— (a) omit sub-paragraph (1);

   9. 10. In paragraph 8— (a) omit sub-paragraph (1);

   10. 11. In paragraph 9— (a) in sub-paragraph (1) for “any of...

   11. 12. At the end of paragraph 11 add—

   12. 13. (1) Paragraph 12 is amended as follows.

4. PART 3 Amendment of Part 9

   1. 14. Part 9 of Schedule 26 to the Finance Act 2002...

   2. 15. After paragraph 45 insert— Derivative contracts which are to be...

   3. 16. In paragraph 46(2)(a)— (a) for “(a)” substitute “(c)”;

   4. 17. Omit paragraph 47.

5. PART 4 Consequential amendments

   1. 18. In Part 8 of Schedule 26 to the Finance Act...

   2. 19. (1) In Part 10 of Schedule 26 to the Finance...

6. Signature

7. Explanatory Note