399 [F1Basic rules] U.K.
(1)This section applies if a loan relationship is represented by an index-linked gilt-edged security.
(2)The amounts to be brought into account for the purposes of this Part are to be determined using fair value accounting.
[F2(3)For provision requiring adjustments to be made to amounts determined under subsection (2), see sections 400 to 400C (adjustments for changes in index).]
(4)In this section and [F3sections 400 to 400C] “index-linked gilt-edged securities” means any gilt-edged securities under which the amounts of the payments are determined wholly or partly by reference to the retail prices index.
(5)For the meaning of “gilt-edged securities”, see section 476(1).
Textual Amendments
F1S. 399 heading substituted (with effect in accordance with Sch. 14 para. 8 of the amending Act) by Finance Act 2010 (c. 13), Sch. 14 para. 4(2) (with Sch. 14 para. 9)
F2S. 399(3) substituted (with effect in accordance with Sch. 14 para. 8 of the amending Act) by Finance Act 2010 (c. 13), Sch. 14 para. 4(3) (with Sch. 14 para. 9)
F3Words in s. 399(4) substituted (with effect in accordance with Sch. 14 para. 8 of the amending Act) by Finance Act 2010 (c. 13), Sch. 14 para. 4(4) (with Sch. 14 para. 9)