The Financing-Arrangement-Funded Transfers to Shareholders Regulations 2008

Preliminary

Citation, commencement and effect

1.—(1) These Regulations may be cited as the Financing-Arrangement-Funded Transfers to Shareholders Regulations 2008 and shall come into force on 12th August 2008.

(2) These Regulations have effect in relation to periods of account beginning on or after 1st January 2008.

Interpretation

2.  In these Regulations—

a “relevant financing arrangement” means a relevant financing arrangement in relation to a non-profit fund within section 83YC(4) of the Finance Act 1989(1);

a “section 83YC(3) amount” means an amount within section 83YC(3) of the Finance Act 1989;

a “section 83YC(3) period of account” means a period of account for which there is a section 83YC(3) amount;

a “section 83YD arrangement” means a relevant financing arrangement in respect of which there is a section 83YD(2) amount;

a “section 83YD(2) amount” means an amount within section 83YD(2) of the Finance Act 1989(2);

a “section 83YD(2) period of account” means a period of account for which there is a section 83YD(2) amount.

(1)

Section 83YC of the Finance Act 1989 was inserted by paragraph 1(3) of Schedule 17 to the Finance Act 2008.

(2)

Section 83YD of the Finance Act 1989 was inserted by paragraph 1(3) of Schedule 17 to the Finance Act 2008.