{
  "url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006/regulation-10",
  "json_url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006/regulation-10.json",
  "legislation": "ukdsi/2006/0110753275",
  "legislation_title": "The Taxation of Securitisation Companies Regulations 2006",
  "legislation_url": "https://openlegislation.uk/draft-taxation-of-securitisation-companies-regulations-2006",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Meaning of “retained profit”",
  "text": "(1) For the purposes of these Regulations the “retained profit” of a securitisation company for an accounting period is the amount required by the capital market arrangement or a related transaction to be retained, made available to be retained, or designated as profits of the securitisation company (however described).\n(2) If retained profit relates to two or more accounting periods, it shall be apportioned on a just and reasonable basis between them.\n(3) If in an accounting period the securitisation company has insufficient funds available to meet the retained profit required by the capital market arrangement or a related transaction—\n(a) the amount of the retained profit for the purposes of these Regulations is the amount actually retained as profit for that accounting period, and\n(b) in a later accounting period the amount of the retained profit may be increased by up to the amount of the shortfall in the earlier period.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2006/0110753275/regulation/10",
    "retrieved_at": "2026-10-30T15:20:40.450658+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}