S2
Issued
08 Dec 1992

Funding and Hedging Arrangements Denominated in Foreign Currency in Respect of the Forward Purchase of a Commodity Where Payment is Received at Irregular Periods

This determination applies to all specific financial arrangements, together with any consequential financial arrangements arising as a result of deferred settlement of payment obligations under these financial arrangements being in all cases financial arrangements denominated in a base currency. The determination allows an issuer under the agreement for sale and purchase of the commodity to calculate income or expenditure in relation to all of these financial arrangements.