# The Employment Income (Meaning of Securities) Order 2007, Note: Explanatory note


(This note is not part of the Order)
This Order amends the meaning of the expression “securities” in section 420(1) of the Income Tax (Earnings and Pensions) Act 2003 to include arrangements falling within section 48A of the Finance Act 2005 (alternative finance arrangements: alternative investment bond). This Order reflects the change in law resulting from the enactment of section 48B(3) of the Finance Act 2005 which was inserted by section 53 of the Finance Act 2007.
The amendment made by this Order falls within the scope of a full regulatory impact assessment. That assessment was prepared by HM Revenue and Customs in respect of the effect that Part 4 of the Finance Bill of the 2006-07 session will have on the costs of business and the voluntary sector. The assessment, which was published on 13 March 2007, is annexed to the Explanatory Memorandum which is available alongside the instrument on the OPSI website.

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Source: https://www.legislation.gov.uk/uksi/2007/2130/note (the official version)
Page: https://openlegislation.uk/employment-income-meaning-of-securities-order-2007/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.