Related Commentary  Related HMRC Manuals

587(1)  This section applies in relation to a relevant contract to which a company is a party in an accounting period if–

(a)it is not a derivative contract for the purposes of this Part but for this section, and

(b)its underlying subject matter consists wholly or partly of a relevant holding in that period.

587(2)  This Part has effect–

(a)for that accounting period, and

(b)for any succeeding accounting period in which the relevant contract is a relevant contract of the company,

as if the relevant contract were a derivative contract.

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