Part 6Exempt income
Chapter 9Other income
Income of non-UK residents from certain securities
774Income from securities issued by designated international organisations
1
No liability to income tax arises for a non-UK resident in respect of income from a security issued by an organisation if—
a
the organisation has been designated by the Treasury for the purposes of this section, and
b
the liability only arises because one or more of circumstances A to C apply.
2
Circumstance A is that the security is issued in the United Kingdom or in sterling.
3
Circumstance B is that the income is made payable or paid in the United Kingdom or in sterling.
4
Circumstance C is that the organisation maintains an office or other place of business in the United Kingdom.
5
The Treasury may by order designate for the purposes of this section—
b
the European Investment Bank,
c
any international organisation that meets conditions A and B.
6
7
Condition B is that the agreement under which that member became a member provides for the same kind of exemption from tax for income from securities issued by the organisation as this section provides.