Statutory Instrument 1995 No. 2052

The Income Tax (Manufactured Dividends) (Tradepoint) Regulations 1995

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© Crown Copyright 1995

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1995 No. 2052

INCOME TAX

The Income Tax (Manufactured Dividends) (Tradepoint) Regulations 1995

The Treasury, in exercise of the powers conferred on them by section 737(6), (7A) and (7B) of, and paragraphs 1(1) and 8(2) and (3) of Schedule 23A to, the Income and Corporation Taxes Act 1988^[1], hereby make the following Regulations:

Citation and commencement
    1.    These Regulations may be cited as the Income Tax (Manufactured Dividends) (Tradepoint) Regulations 1995 and shall come into force on 25th August 1995.

Interpretation
    2.    In these Regulations unless the context otherwise requires—
"the Board" means the Commissioners of Inland Revenue;


"Board of directors" means the Board of directors of Tradepoint;


"clearing participant" means a member (as defined by this regulation) who is also a member of The London Clearing House Limited and who as such is permitted by the Board of directors and that clearing house to clear transactions made on the Exchange for a traded security;


"the Exchange" means Tradepoint Investment Exchange;


"Management Act" means the Taxes Management Act 1970^[2];


"member" in relation to Tradepoint means a person approved by the Board of directors as a participant in the Exchange;


"return period" shall be construed in accordance with regulation 12;


"section 737" means section 737 of the Taxes Act^[3];


"Schedule 23A" means Schedule 23A to the Taxes Act;


"Taxes Act" means the Income and Corporation Taxes Act 1988^[4];


"Tradepoint" means Tradepoint Financial Networks plc;


"United Kingdom equities" means shares of any company resident in the United Kingdom.

[1] 1988 c. 1. Subsection (6) of section 737 was amended, and subsections (7A) and (7B) were inserted, by paragraph 3(6) and (7) of Schedule 13 to the Finance Act 1991 (c. 31), and Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991. back

[2] 1970 c. 9. back

[3] Section 737 was amended by paragraph 3 of Schedule 13, and Part V of Schedule 19, to the Finance Act 1991, paragraph 14 of Schedule 6 to the Finance Act 1993 (c. 34), paragraph 18 of Schedule 16 to the Finance Act 1994 (c. 9), and section 82 of the Finance Act 1995 (c. 4). back

[4] 1988 c. 1. back

Explanatory Note