- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
7. (1) For the purposes of section 878 of the Income Tax Act 2007(1) (interest paid by banks), ACo is to be treated as a bank in relation to payments of interest made by ACo after 31st December 2009 on any securities or liabilities to which this regulation applies.
(2) This regulation applies to—
(a)securities issued by ACo on or before 31st December 2009, and
(b)liabilities incurred under an agreement entered into by ACo on or before that date,
which are not transferred by a relevant transfer and in relation to which section 878 of the Income Tax Act 2007 applied to payments of interest made on or before 31st December 2009, or would have applied if a payment of interest had been made on or before that date.
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.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: