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

Schedule 10 General Interpretation

Regulation 13

Capitalisation

1. "Capitalisation", in relation to work or costs, means treating that work or those costs as a fixed asset.

Financial instruments

2. Save in Schedule 2 to these Regulations, 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 where 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 (for banking companies, see the definition in paragraph 94 of Schedule 2 to these Regulations).

3.