10 Miscellaneous matters relating to definition of derivative


Section 8(4)(d) applies only to the extent that the agreement deals with the purchase and sale referred to in that paragraph.


An agreement under which one party has an obligation to buy, and the other has an obligation to sell, property is not a derivative merely because the agreement provides for the consideration to be varied by reference to a general inflation index (for example, the Consumers Price Index (All Groups) published by Statistics New Zealand).


Subsection (2) is subject to section 8(5)(a).