(1)If any of the provisions in subsection (2) applies to a derivative contract of a company for an accounting period, section 574 (non-trading credits and debits to be brought into account under Part 5: loan relationships) does not apply to the relevant credits and debits.
(2)The provisions are—
(a)section 643 (contracts relating to land or certain tangible movable property),
(b)section 645 (creditor relationships: embedded derivatives which are options),
(c)section 648 (creditor relationships: embedded derivatives which are exactly tracking contracts for differences), and
(d)section 650 (property based total return swaps).
(3)For the meaning of “relevant credits” and “relevant debits”, see section 659.
(4)For the treatment of the relevant credits and debits in the case of a derivative contract to which section 643, 645, 648 or 650 applies, see section 641 (derivative contracts to be taxed on a chargeable gains basis).