Corporation Tax Act 2009 section 79

Interpretation

Section 79 establishes that the terminology used in this part of Schedule 2 carries the same meaning as in Part 7 of the Corporation Tax Act 2009, which deals with derivative contracts.

• All terms and expressions used in this part of Schedule 2 have the same meaning as those used in Part 7 of the Act (derivative contracts).
• This ensures consistency of interpretation between the transitional provisions in the Schedule and the main derivative contracts legislation.
• There is no need to look for separate definitions within the Schedule itself — the Part 7 definitions apply throughout.
• Section 80 extends the scope of condition E in section 591(6)(b) so that it also covers the transitional rules in paragraphs 82 and 86 of the Schedule.