(A)The term “derivative” means any contract (including any option, forward contract, futures contract, short position, swap, or similar contract) the value of which, or any payment or other transfer with respect to which, is (directly or indirectly) determined by reference to one or more of the following: (i)Any share of stock in a corporation. (ii)Any evidence of indebtedness. (iii)Any commodity which is actively traded. (iv)Any currency. (v)Any rate, price, amount, index, formula, or algorithm. (B)Except as otherwise provided by the Secretary, for purposes of this part, American depository receipts (and similar instruments) with respect to shares of stock in foreign corporations shall be treated as shares of stock in such foreign corporations. (C)Such term shall not include any insurance, annuity, or endowment contract issued by an insurance company to which subchapter L applies (or issued by any foreign corporation to which such subchapter would apply if such foreign corporation were a domestic corporation). (i)The Secretary shall prescribe such regulations or other guidance as may be necessary or appropriate to carry out the provisions of this section, including regulations—


26 USC § 59A(h)(4)(A)

Scoping language

For purposes of this section
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