[420 Derivative contracts subject to fair value accounting]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Treatment of derivative contracts in financial statements of worldwide group]

[420  Derivative contracts subject to fair value accounting]

[(1)     This section makes provision about the amounts recognised in a worldwide group's financial statements for a period of account (“the relevant period of account”) in respect of derivative contracts.

(2)     Subsection (3) applies where one or more excluded derivative contract amounts are recognised in the group's financial statements for the relevant period of account as items of profit or loss.

(3)     The financial statements are treated for the

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