Part 15

Deduction of income tax at source
Chapter 19

General

Interpretation

Meaning of “financial instrument”
984
1
In this Part “financial instrument” includes—
a
any money,
b
any shares or securities,
c
an option, future or contract for differences if its underlying subject-matter is (or is primarily) one or more financial instruments, and
d
an instrument the underlying subject-matter of which is (or is primarily) creditworthiness.
2
For the purposes of subsection (1) if the effect of an instrument depends on an index or factor, the “underlying” subject-matter of the instrument is the matter by reference to which the index or factor is determined.
Pt. 15 modified (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), ss. 551(4), 1329(1) (with Pts. 1, 2, Sch. 2 para. 78)