23(1)In Schedule 26 to FA 2002 (derivative contracts) paragraph 30 (transactions within groups: fair value accounting) is amended as follows.U.K.
(2)In sub-paragraph (1), for paragraph (b) (treatment of transferee in respect of the transaction) substitute—
“(b)paragraph 28(3)(b) shall have effect in relation to the transferee company.”.
(3)The amendment made by this paragraph has effect in any case where the relevant transaction is on or after 16th March 2005.
(4)In this paragraph “the relevant transaction” has the same meaning as in paragraph 22.