Corporation Tax Act 2009 section 606G

Meaning of "relevant contingent contract" and "operative condition"

Section 606G defined the terms "relevant contingent contract" and "operative condition" for the purposes of the rules on contingent contracts within the derivative contracts regime. This section has been removed from the legislation.

• Section 606G provided definitions of "relevant contingent contract" and "operative condition" used in the derivative contracts rules
• These definitions supported sections 606A to 606H, which dealt with the tax treatment of contingent contracts
• The entire group of sections (606A to 606H) was removed by the Finance (No. 2) Act 2015
• The repeal takes effect for accounting periods beginning on or after 1 January 2016