Search Legislation

The Personal Equity Plan (Amendment) Regulations 1996

What Version

 Help about what version
  • Latest available (Revised)
  • Original (As made)

Opening Options

 Help about opening options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Amendments to the principal Regulations

3.—(1) In regulation 2(1)(a)(1)—

(a)after the definition of “the Board” there shall be inserted—

“building society” means a building society within the meaning of the Building Societies Act 1986(2);

(b)in paragraph (a) of the definition of “company” the words from “within” to the end of the paragraph shall be omitted;

(c)after the definition of “company” there shall be inserted—

“deposit-taker” has the meaning given by section 481(2)(3) of the Taxes Act;

(d)in the definitions of “gains” and “chargeable gains” for the words “Capital Gains Tax Act 1979” there shall be substituted the words “Taxation of Chargeable Gains Act 1992”;

(e)in the definition of “market value” for the words “section 150 of the Capital Gains Tax Act 1979” there shall be substituted the words “section 272 of the Taxation of Chargeable Gains Act 1992”.

(2) In regulation 2(1)(b)(4) for the definition of “feeder fund” there shall be substituted—

“feeder fund” means a unit trust scheme which is also—

(a)

an exempt approved personal pension scheme (within the meaning of Chapter 1 of Part XIV of the Taxes Act) where the employer is not a contributor to the exempt approved scheme and that scheme provides benefits additional to those provided by another exempt approved scheme to which he is a contributor, or

(b)

an approved personal pension scheme (within the meaning of Chapter IV of Part XIV of the Taxes Act),

and where, under the rules of the unit trust scheme, investments subject to the trusts of the scheme must be invested in units in a single unit trust scheme or in shares in a single investment trust;.

(1)

Amended by S.I. 1990/678, 1991/733, 2774 and 1995/1539 and 3287.

(3)

Section 481(2) was amended by section 30 of, and paragraph 8 of Schedule 5 to, the Finance Act 1990 (c. 29).

(4)

Amended by S.I. 1990/678, 1993/756.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources