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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 April 2015 - onwards
Version 3 of 3

Schedule 2, Part 4 Interpretation of this Schedule (paras. 93-99)

Regulation 5(1)

Definitions for this Schedule

93. The following definitions apply for the purposes of this Schedule.

Financial fixed assets

94. "Financial fixed assets" means loans and advances and securities held as fixed assets; participating interests and shareholdings in group undertakings are to be regarded as financial fixed assets.

Financial instruments

95. For the purposes of this Schedule, references to "derivatives" include commodity-based contracts that give either contracting party the right to settle in cash or in some other financial instrument, except when such contracts -

(a) were entered into for the purpose of, and continue to meet, the company’s expected purchase, sale or usage requirements,

(b) were designated for such purpose at their inception, and

(c) are expected to be settled by delivery of the commodity.

96.