3.—(1) Regulation 2 shall be amended as follows.
(2) In the definition of “accountable date”(1)–
(a)the word “and” immediately following paragraph (b) shall be omitted;
(b)after paragraph (c) there shall be added
“, and
(d)in relation to a surrender, the date which is the fourteenth day of the month following the month in which the relevant two week period ends;”.
(3) In the definition of “accountable person”(2)–
(a)the word “and” immediately following paragraph (d) shall be omitted;
(b)after paragraph (e) there shall be added
“, and
(f)in relation to a charge on the surrender of a unit under paragraph 2(1) of Schedule 19 to the Finance Act 1999–
(i)the managers of the unit trust scheme and, failing that,
(ii)the trustees of the unit trust scheme;
(g)in relation to a charge on the surrender of a share in an open-ended investment company under paragraph 2(1) of Schedule 19 to the Finance Act 1999–
(i)the authorised corporate director of the company and, failing that,
(ii)the company;”
(4) After the definition of “accountable person” there shall be inserted the following definition–
““authorised corporate director” and “open-ended investment company”, have the meanings given by regulation 2(3) of the Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) Regulations 1997;”.
(5) After the definition of “relevant transaction” there shall be inserted the following definition–
““relevant two-week period” has the meaning given by paragraph 4(2) of Schedule 19 to the Finance Act 1999;”.
(6) After the definition of “Special Commissioners” there shall be inserted the following definition–
““surrender” shall be construed in accordance with paragraph 2(1) of Schedule 19 to the Finance Act 1999 (surrender of units to managers);”.
(7) After the definition of “tax” there shall be inserted the following definitions–
““unit” and “unit trust scheme” have the meanings given by paragraph 14 of Schedule 19 to the Finance Act 1999.”