The Social Security (Contributions) Amendment (No. 7) Regulations 1993

Amendment of Schedule 1A to the principal Regulations

3.  In Schedule 1A to the principal Regulations (assets not to be disregarded as payments under regulation 19(1)(d))(1)—

(a) in paragraph 5(2) for the words “paragraph 1, 2, 3 or 4” there shall be substituted the words “paragraphs 1 to 4 or 9A”;

(b) after paragraph 9 there shall be inserted the following paragraphs—

“9A.   Any commodity or other property of any description not falling within paragraphs 1 to 4 or 6 to 9 of this Schedule and which is capable of being sold on a recognised investment exchange.

9B.   Any voucher which is capable of being exchanged for an asset falling within any of the foregoing paragraphs of this Schedule.”;

(c) after paragraph 14 there shall be added the following paragraphs—

“15.   For the purposes of paragraph 9A of this Schedule “a recognised investment exchange” is—

(a) a body recognised as such under the Financial Services Act 1986(3); or

(b) the London Bullion Market.

16.   In paragraph 9B of this Schedule “voucher” means any voucher, stamp or similar document, whether used singly or together with other such vouchers, stamps or documents.”.

(1)

1986 c. 60.

(2)

Schedule 1A was inserted by regulation 5 of S.I. 1991/2505.

(3)

1986 c. 60.