EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations are made pursuant to Schedule 15 to the Finance Act 2004.
Regulation 1 provides for citation and commencement.
Regulation 2 provides for the manner in which an election under paragraph 21 or 22 of Schedule 15 to the Finance Act 2004 is to be made.
A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.