Template:M comp disc 2002 ISDA Tax Event and Change in Tax Law: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "==== Tax Event ==== {{M comp disc 2002 ISDA 5(b)(iii)}} ==== Change in Tax Law ==== {{M comp disc 2002 ISDA Change in Tax Law}}" |
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==== Tax Event ==== | ==== Tax Event ==== | ||
{{M comp disc 2002 ISDA 5(b)(iii)}} | {{M comp disc 2002 ISDA 5(b)(iii)}} | ||
Revision as of 15:11, 6 June 2023
Tax Event
Numbering Discrepancy: Note the numbering discrepancy in Section 5(b) between the 1992 ISDA and 2002 ISDA. This is caused by a new 5(b)(ii) (Force Majeure Event) in the 2002 ISDA before Tax Event, which is thus shunted from Section 5(b)(ii) (in the 1992 ISDA) to Section 5(b)(iii) (in the 2002 ISDA).
The 1992 ISDA represented a significant change from the 1987 ISDA which was a bit half-hearted about gross-ups.
Other than the renumbering, no real changes in the definition of Tax Event from the 1992 ISDA to the 2002 ISDA though, unhelpfully, the sub-paragraph references in the 1992 ISDA are (1) and (2) and in the 2002 ISDA are (A) and (B). Otherwise, pretty much the same.