3(1)In Schedule 26 of FA 2003 (non-resident companies: transactions through broker, investment manager or Lloyd’s agent), for paragraph 3(3) and (4) substitute—
“(3)In sub-paragraph (1) “investment transaction” means any transaction of a description specified for the purposes of this paragraph in regulations made by the Commissioners for Her Majesty’s Revenue and Customs.
(4)Provision made in regulations under sub-paragraph (3) may, in particular, have effect in relation to accounting periods current on the day on which the regulations are made.”
(2)In section 828(2) of ICTA (orders and regulations), after “Finance Act 1989” insert “or paragraph 3(3) of Schedule 26 to the Finance Act 2003”.