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3.—(1) A finance arrangement is made for a long-term funding purpose where at the date the finance arrangement is made—
(a)to the extent that the finance arrangement provides for the creation of money debt, it is reasonable to expect that all the money debt created under it will not be settled within 12 months of the money debt first being created under it, and
(b)to the extent that the finance arrangement is otherwise a loan relationship, it is reasonable to expect that it will not terminate within 12 months of its coming into force; or
(c)the conditions in regulation 4 are met.
(2) For the purposes of this regulation circumstances where it is reasonable to expect that the finance arrangement will not be settled or terminated within 12 months include circumstances where—
(a)the finance arrangement may be settled or terminated by use of borrowing; or
(b)the finance arrangement may be settled or terminated temporarily by funds available for a limited period of time.
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