Corporation Tax Act 2009 section 606F

Meaning of "option"

Section 606F previously defined the meaning of "option" for the purposes of the derivative contracts rules, but has been removed from the legislation.

• Section 606F provided the definition of "option" used within the derivative contracts provisions of the Corporation Tax Act 2009.
• This section was part of a group of related provisions (sections 606A to 606H) that were all removed at the same time.
• The removal was enacted by Finance (No. 2) Act 2015, under section 32 and Schedule 7, paragraph 69.
• The omission takes effect for accounting periods beginning on or after 1 January 2016; companies with accounting periods straddling that date would need to consider the transitional rules.