The term ‘relevant contract’ is quite widely drafted so and will include most derivative contracts. Specifically, a ‘relevant contract’ is (SI 2006/964, reg. 14G):

an option;

a future; or

a contract for differences.

However, an option, future or contract for differences which relates to land will only be a relevant contract where it uses an index or other factor designated in the contract which is:

Apublicly accessible;

Bcomprised of a significant number of properties; and

Cnot maintained by the diversely owned AIF, its manager or a person connected with the AIF or its manager.

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