Regulation 4 ceases to have effect from 22 April 2009
Regulation 4: dual currency loan
In broad terms, the effect of Regulation 4 of SI 2006/843 is to disregard the loss claimed by the company that would otherwise benefit from the arrangements. It is intended to catch a wider range of schemes than merely the arrangement described at CFM63020, and therefore applies to exchange losses on derivative contracts as well as to those on loan relationships.
The provision applies to accounting periods ending on or after 22 March 2006, but not to arrangements where the company ceased to be party to the loss-generating loan or derivative before that date.