96. Contracts for differences etc.
(1) Subject to sub-paragraph (2), rights under —
(a) a contract for differences; or
(b) any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in —
(i) the value or price of property of any description; or
(ii) an index or other factor designated for that purpose in the contract.
(2) There are excluded from sub-paragraph (1) —
(a) rights under a contract if the parties intend that the profit is to be secured or the loss is to be avoided by one or more of the parties taking delivery of any property to which the contract relates;
(b) rights under a contract under which money is received by way of deposit on terms that any interest or other return to be paid on the sum deposited will be calculated by reference to fluctuations in an index or other factor;
(c) rights under a Contract of Insurance.