The Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 1992

Amendments to the principal Regulations

9.  In regulation 11—

(a) for paragraph (1) there shall be substituted—

“(1) A building society may not treat an investment, or any payment of a dividend or interest in respect of it, as being within the provisions of sub-paragraphs (a) to (c) of paragraph (1) of regulation 4 unless it has received from the appropriate person a declaration in writing which can reasonably be taken to indicate that, at the time of the payment, those provisions apply.”;

(b) in paragraph (2) for the words “that individual or, where sub-paragraph (c) applies, by his personal representatives” there shall be substituted the words “the appropriate person”;

(c) for sub-paragraph (a) of paragraph (2) and the word “or” immediately following it there shall be substituted—

“(a) where sub-paragraph (a) or (b) applies, at the time the declaration is made the individual is not ordinarily resident in the United Kingdom and that the appropriate person will inform the building society if the individual becomes so ordinarily resident; or”;

(d) after paragraph (2) there shall be inserted—

“(2A)   A building society may not treat an investment, or any payment of a dividend or interest in respect of it, as being within the provisions of sub-paragraphs (d) to (f) or (k) of paragraph (1) of regulation 4 unless it has received from the investor a declaration in writing which can reasonably be taken to indicate that, at the time of the payment, those provisions apply.”;

(e) in paragraph (4) for “paragraphs (1) or (2)” there shall be substituted “paragraphs (1), (2) or (2A)”.