SCHEDULES
SCHEDULE 13

Transfer schemes: tax provisions
Part 2

Transfers etc between taxable public bodies

Continuity in relation to derivative contracts
15
1
For the purposes of the application of Part 7 of CTA 2009 (derivative contracts) in relation to a relevant transfer, the transferee and the transferor are to be treated as if, at the time of the transfer, they were members of the same group.
2
In sub-paragraph (1) the reference to being members of the same group must be construed in accordance with section 624(3) of that Act.
Words in Sch. 13 para. 15(1) substituted (with effect in accordance with s. 1329(1) of the commencing Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 739(7)(a) (with Sch. 2 Pts. 1, 2)
Words in Sch. 13 para. 15(2) substituted (with effect in accordance with s. 1329(1) of the commencing Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 739(7)(b) (with Sch. 2 Pts. 1, 2)