The Loan Relationships and Derivative Contracts (Change Of Accounting Practice) (Amendment) Regulations 2004

• Citation: S.I. 2004/3347
• Sections: 2

Section 1 Citation, commencement and interpretation

(1) These Regulations may be cited as the Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations 2004 and shall come into force on 1st January 2005.

(2) In these Regulations “the principal Regulations ” means the Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations 2004 .

Section 2 Amendment of the principal Regulations

(1) The principal Regulations are amended as follows.

(2) In regulation 4(7)—

(a) for “an asset representing” substitute “a liability representing”;

(b) for “the debit falling” substitute “the credit falling”; and

(c) for “interest receivable” substitute “interest payable”.