The European Single Currency (Taxes) Regulations 1998

Interpretation

31.  In this Part of these Regulations—

• “the accrued amount” has the meaning given by section 713(4) of the Taxes Act;

• “the accrued income provisions” means sections 710 to 728 of the Taxes Act;

• “interest period” shall be construed in accordance with section 711(3) and (4) of the Taxes Act except that, where securities are issued on an exchange of securities to which regulation 32 (exchange of securities resulting from euroconversion) applies, paragraph (a) of section 711(3) of that Act (commencement of interest period) shall have effect for the purposes of regulation 33 as if the reference in that paragraph to the day following that on which securities are issued were a reference to the day on which they are issued;

• “the rebate amount” has the meaning given by section 713(5) of the Taxes Act;

• “securities” has the meaning given by section 710(2) to (4)(1) of the Taxes Act;

• “transfer” in relation to a transfer of securities has the meaning given by subsection (5), read with subsection (13), of section 710 of the Taxes Act.

(1)

Section 710 was amended by paragraph 2 of Schedule 10 to the Finance Act 1991, paragraph 14(36) of Schedule 10 to the Taxation of Chargeable Gains Act 1992, paragraph 5 of Schedule 8 to the Finance (No. 2) Act 1992 (c. 48), and section 87(5) of the Finance Act 1995.