PART IX ANNUAL PAYMENTS AND INTEREST

Mortgage interest relief at source

376A The register of qualifying lenders.
(1) The Board shall maintain, and publish in such manner as they consider appropriate, a register for the purposes of section 376(4).
(1A) The following are entitled to be registered—
(a) a person who has permission under Part 4A of the Financial Services and Markets Act 2000—
(i) to accept deposits; or
(ii) to effect or carry out contracts of general insurance;
Words in s. 376A(1A)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 58(4) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
(b) a 90 per cent subsidiary of a person mentioned in—
(i) section 376(4)(e); or
(ii) paragraph (a) above;
(c) any other body whose activities and objects appear to the Board to qualify it for registration.
S. 376A(1A) inserted (1.12.2001 in accordance with art. 1(2)(a) of the amending Order) by The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001 (S.I. 2001/3629), art. 24
(2) If the Board are satisfied that an applicant for registration is entitled to be registered, they may register the applicant generally or in relation to any description of loan specified in the register, with effect from such date as may be so specified; and a body which is so registered shall become a qualifying lender in accordance with the terms of its registration.
(3) The registration of any body may be varied by the Board—
(a) where it is general, by providing for it to be in relation to a specified description of loan, or
(b) where it is in relation to a specified description of loan, by removing or varying the reference to that description of loan,
and where they do so, they shall give the body written notice of the variation and of the date from which it is to have effect.
(4) If it appears to the Board at any time that a body which is registered under this section would not be entitled to be registered if it applied for registration at that time, the Board may by written notice given to the body cancel its registration with effect from such date as may be specified in the notice.
(5) The date specified in a notice under subsection (3) or (4) above shall not be earlier than the end of the period of 30 days beginning with the date on which the notice is served.
(6) Any body which is aggrieved by the failure of the Board to register it under this section, or by the variation or cancellation of its registration, may appeal, by notice given to the Board before the end of the period of 30 days beginning with the date on which the body is notified of the Board’s decision. . . .
Word in s. 376A(6) inserted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 138(a)
Words in s. 376A(6) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 138(b)
S. 376A inserted (3.5.1994) by Finance Act 1994 (c. 9), s. 142(2)