Section 603 — Corporation Tax Act 2009: Associated transaction treated as derivative contract

Associated transaction treated as derivative contract 603 1 This section is to be read as if it were in Chapter 7 (shares with guaranteed returns etc) of Part 6 (relationships treated as loan relationships etc).

2 See, in particular, section 532(3) (meaning of “associated transaction”).

3 Subsection (4) applies if credits and debits are required to be brought into account in accordance with this Part in respect of any associated transaction because of section 588 (which treats such a transaction which is not a derivative contract as if it were).

4 Those credits and debits are to be determined on the basis of fair value accounting.