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EW 9: Persons to whom financial arrangements rules apply
or “Who needs to follow the financial arrangements rules”
You could also call this:

“Rules for financial arrangements made or changed after 20 May 1999”

The financial arrangements rules apply to financial arrangements in several situations. You need to follow these rules if you enter into a financial arrangement on or after 20 May 1999. If an arrangement existed before that date, the rules apply to the part you become involved in after 20 May 1999.

These rules also cover financial arrangements that are extended, rolled over, or where new money is given out on or after 20 May 1999, even if the original agreement was made before that date.

There are some exceptions to these rules. If you enter into a financial arrangement on or after 20 May 1999, but it’s part of a binding agreement made before that date, the rules don’t apply.

The rules can also apply to financial arrangements that are transferred under a relationship agreement. If the original arrangement was made before 20 May 1999, but it’s extended, rolled over, or new money is given out after that date, the rules apply to the part the new person becomes involved in.

However, if you enter into a financial arrangement on or after 20 May 1999 as part of a binding agreement made before that date, and it’s transferred under a relationship agreement after 20 May 1999, the rules don’t apply.

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Next up: EW 11: What financial arrangements rules do not apply to

or “Exceptions to financial arrangement rules for certain income and interest types”
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Part E Timing and quantifying rules
Financial arrangements rules

EW 10Financial arrangements to which financial arrangements rules apply

  1. The financial arrangements rules apply to a financial arrangement that all its parties enter into on or after 20 May 1999.

  2. The financial arrangements rules apply to a financial arrangement existing immediately before 20 May 1999 to the extent to which a person becomes a party to the arrangement on or after 20 May 1999.

  3. The financial arrangements rules apply to a financial arrangement that is rolled over or extended, or under which an advance is made, on or after 20 May 1999, under a binding contract entered into before 20 May 1999.

  4. However, the financial arrangements rules do not apply to a financial arrangement if—

  5. all its parties enter into it on or after 20 May 1999; and
    1. they enter into it under a binding contract entered into before 20 May 1999.

      1. The financial arrangements rules apply to a financial arrangement to which all the following apply, to the extent to which the transferee becomes a party to it:

      2. the transferor is a party to it before 20 May 1999; and
        1. it is rolled over or extended, or an advance is made under it, on or after 20 May 1999, under a binding contract entered into before 20 May 1999; and
          1. it is transferred under a relationship agreement on or after 20 May 1999.

            1. However, the financial arrangements rules do not apply to a financial arrangement if—

            2. all its parties enter into it on or after 20 May 1999; and
              1. they enter into it under a binding contract entered into before 20 May 1999; and
                1. it is transferred under a relationship agreement on or after 20 May 1999.

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