The Income Tax (Deposit-takers) (Audit Powers) Regulations 1992

Interpretation

2.  In these Regulations unless the context otherwise requires—

“the Act” means the Income and Corporation Taxes Act 1988;

“agreement” means agreement in writing and “agree” shall be construed accordingly;

“audit report” means a report made by an auditor in respect of an audit carried out pursuant to these Regulations;

“auditor” means an individual or firm whose name appears in the register of auditors kept pursuant to the Companies Act 1989 (Register of Auditors and Information about Audit Firms) Regulations 1991(1);

“the Board” means the Commissioners of Inland Revenue;

“deposit”, “deposit-taker” and “relevant deposit” have the meanings given by section 481 of the Act(2);

“excluded deposit” has the meaning given by regulation 5;

“notice” means notice in writing;

“payment” (except in relation to a payment to the Board) includes “credit” and “paid” shall be construed accordingly;

“Special Reports booklet” means the booklet entitled “Special Reports of Accountants” published by the Auditing Practices Committee of the Consultative Committee of Accountancy Bodies in 1984.

(1)

S.I. 1991/1566.

(2)

Section 481 was amended by paragraph 8 of Schedule 5 and Part IV of Schedule 19 to the Finance Act 1990.