PART III

Income Tax, Corporation Tax and Capital Gains Tax
CHAPTER I

General

Supplementary regulations
29
1
The Treasury may by regulations made by statutory instrument make provision for the application of sections 26 and 28 above and Schedule 7 to this Act in relation to—
a
a housing association which is for the time being approved for the purposes of section 341 of the Taxes Act and which borrows or has borrowed from a qualifying lender on the security of a freehold or leasehold estate of that association on land in Great Britain or Northern Ireland; and
b
a self-build society, within the meaning of Part I of the Housing Act 1974, which is for the time being approved for the purposes of section 341A of the Taxes Act and which borrows or has borrowed from a qualifying lender on the security of a freehold or leasehold estate of that society on land in Great Britain.
2
Regulations under subsection (1) above—
a
may contain such modifications of the provisions of sections 26 and 28 above and Schedule 7 to this Act, and
b
may make the application of any of those provisions subject to such special conditions,
as appear to the Treasury to be appropriate.
3
The Board may by regulations made by statutory instrument make provision—
a
for the purposes of any provision of section 26 or section 28 above or Schedule 7 to this Act which relates to any matter or thing to be specified by or done in accordance with regulations ;
b
for the application of sections 26 and 28 above and Schedule 7 to this Act in relation to loan interest paid by personal representatives and trustees ;
c
with respect to the furnishing of information by borrowers or lenders, including, in the case of lenders, the inspection of books, documents and other records on behalf of the Board ;
d
for, and with respect to, appeals to the General Commissioners or the Special Commissioners against the refusal of the Board to issue a notice under paragraph 7(1)(b) of Schedule 7 to this Act or the issue of a notice under paragraph 10 of that Schedule ; and
e
generally for giving effect to sections 26 and 28 above and Schedule 7 to this Act.
4
In the application of this section to Scotland—
a
" a freehold or leasehold estate " means any interest in land;
b
any reference to a loan on the security of such an estate is a reference to a loan upon a heritable security within the meaning of section 9(8)(a) of the Conveyancing and Feudal Reform (Scotland) Act 1970,
5
A statutory instrument by which the power to make regulations conferred by subsection (1) or subsection (3) above is exercised shall be subject to annulment in pursuance of a resolution of the Commons House of Parliament.
1974 c. 44.
1970 c. 35.