697 Exceptions to section 696
Corporation Tax Act 2009 (2009 c 4) | Legislation

697  Exceptions to section 696

(1)     Section 696 does not apply if A—

(a)     is a bank, building society, financial trader[, recognised clearing house, [recognised CSD,] . . . or third country central counterparty],

(b)     is a party to the derivative contract solely for the purposes of a trade or part of a trade it carries on in the United Kingdom, and

(c)     is

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