STANDARDISATION OF PF2 CONTRACTS PROVISION | SOURCE OF CHANGE WHERE RELEVANT | EXPLANATION OF HOW PROVISION HAS CHANGED THE SoPC4 POSITION |
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Policy / Market up-date | This incorporates the amalgam of the changes made to the SoPC4 Chapter 34 by Amended Refinancing Provisions issued by HM Treasury in October 2008, April 2009 and April 2012 and Note issued by IUK in June 2012. Included are changes to the definitions of Exempt Refinancing, Notifiable Financing, Limb (b) of "Qualifying Bank Transaction" and "Refinancing Gain" all of which have been used in the market in recent years. The last bullet of Section 28.1.1 requires Authorities to agree with how to classify different categories of debt. |