# The European Single Currency (Taxes) (Amendment) Regulations 2002

S.I. 2002/1971 · made 25 July 2002

These Regulations amend the European Single Currency (Taxes) Regulations 1998 (S.I. 1998/3177) (“the principal Regulations”). The amendments are in consequence of the repeal of sections 125 to 169 of the Finance Act 1993 (c. 34) by section 79(1)(b) of the Finance Act 2002 (c. 23) and the repeal of sections 147 to 175 and 177 of the Finance Act 1994 by section 83(2) of the Finance Act 2002.

Made under: Finance Act 1998 (Section 163)

PDFs: Printed copy https://openlegislation.uk/european-single-currency-taxes-amendment-regulations-2002/pdf/uksi_20021971_en.pdf

## Introductory text

TAXES
Made 25th July 2002
Laid before the House of Commons 25th July 2002
Coming into force 1st October 2002
The Treasury, in exercise of the powers conferred upon them by section 163 of the Finance Act 1998, hereby make the following Regulations:

## 1 Citation, commencement and effect

(1) These Regulations may be cited as the European Single Currency (Taxes) (Amendment) Regulations 2002 and shall come into force on 1st October 2002.
(2) These Regulations have effect in relation to accounting periods beginning on or after 1st October 2002.

## 2 Amendment of the European Single Currency (Taxes) Regulations 1998

Amend the European Single Currency (Taxes) Regulations 1998 in accordance with regulations 3 and 4.

## 3 Amendment of regulation 2

In regulation 2(1)—
(a) omit the definition of “long-term capital asset” and “long-term capital liability”;
(b) omit the definition of “qualifying contract”;
(c) in the definition of “relevant asset” for “a long-term capital asset, a long-term capital liability, an option, a qualifying contract” substitute “an option”.

## 4 Omission of regulations 7 to 11

Omit regulations 7 to 11.

## Signature

Jim Fitzpatrick
Philip Woolas
Two of the Lords Commissioners of Her Majesty’s Treasury
25th July 2002

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend the European Single Currency (Taxes) Regulations 1998 (S.I. 1998/3177) (“the principal Regulations”). The amendments are in consequence of the repeal of sections 125 to 169 of the Finance Act 1993 (c. 34) by section 79(1)(b) of the Finance Act 2002 (c. 23) and the repeal of sections 147 to 175 and 177 of the Finance Act 1994 by section 83(2) of the Finance Act 2002.
Regulation 1 provides for citation, commencement and effect.
Regulation 2 introduces the amendments to the principal Regulations.
Regulation 3 amends regulation 2 of the principal Regulations.
Regulation 4 omits regulations 7 to 11 of the principal Regulations.

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Source: https://www.legislation.gov.uk/uksi/2002/1971 (the official version)
Page: https://openlegislation.uk/european-single-currency-taxes-amendment-regulations-2002
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.