Part 12

Accrued income profits
Chapter 2

Accrued income profits and losses

Excluded transfers

Transfers under sale and repurchase arrangements
655
1
If there is a sale and repurchase arrangement in respect of securities, this Chapter does not apply to the transfer by T or the transfer back under the arrangement.
2
But subsection (1) does not apply if section 608 prevents section 607 (treatment of price differences under repos) from applying in relation to the arrangement.