Related Commentary  Related HMRC Manuals

625(1)  This section applies if–

(a)there is a transaction within section 626(2) or a series of transactions within section 626(3),

(b)as a result one of the companies involved (“the transferee”) directly or indirectly replaces the other (“the transferor”) as a party to a derivative contract.

625(2)  The credits and debits to be brought into account in accordance with this Part in respect of the derivative contract are determined in accordance with subsections (3) to (5).

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