Section 582 — Corporation Tax Act 2009: “Contract for differences”

“Contract for differences” 582 1 In this Part “ contract for differences ” means a contract the purpose or pretended purpose of which is to make a profit or avoid a loss by reference to fluctuations in—

a the value or price of property described in the contract, or b an index or other factor designated in the contract. and includes a contract which falls within section 6(2) of, or paragraph 1(1) of Schedule 2 to, the Energy Act 2013.

2 But none of the following is a contract for differences—

a an option, b a future, c a contract of insurance, d a capital redemption policy, e a contract of indemnity, f a guarantee, g a warranty, or h a loan relationship.

3 For the purposes of subsection (1)(b), an index or factor may be determined by reference to any matter.