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The European Communities (Tax Exempt Securities) Order 1985

S.I. 1985/1172 · Made 25 July 1985

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

TAXES

Made 25th July 1985

The Treasury in exercise of the powers conferred on them by section 126(4) of the Finance Act 1984f1 and section 96(2) of the Finance Act 1985, hereby make the following Order:—

Annotations to the whole text

Footnotes

f1

section 126 was amended by section 96(1) of the Finance Act 1985 (c. 54).

Contents

  1. 1Article 1
  2. 2Article 2
  3. 3Article 3
  4. Signature
  5. Explanatory note

1

This Order may be cited as the European Communities (Tax Exempt Securities) Order 1985.

2

The following bodies are designated for the purposes of section 126 of the Finance Act 1984:—

  • The European Economic Community

  • The European Coal and Steel Community

  • The European Atomic Energy Community

  • The European Investment Bank

3

The European Communities (Loan Stock) (Stamp Duties) Order 1972 is hereby revoked.

Signature

Donald Thompson

John Major

Two of the Lords Commissioners of Her Majesty's Treasury

25th July 1985

Explanatory note

This Order provides for the limited exemptions from income tax, capital transfer tax, capital gains tax and stamp duty contained in section 126 of the Finance Act 1984, as amended by section 96 of the Finance Act 1985, to be given in respect of securities issued by the European Communities and the European Investment Bank. These exemptions are conferred in order to give effect to a resolution of the Council of Ministers of the member states of the European Economic Community of 24/25th October 1960 in relation to the European Coal and Steel Community, the European Atomic Energy Community and the European Investment Bank and to grant equal treatment to the European Economic Community. In relation to stamp duty the Order supersedes the European Communities (Loan Stock) (Stamp Duties) Order 1972.