{
  "url": "https://openlegislation.uk/european-single-currency-taxes-regulations-1998/regulation-35",
  "json_url": "https://openlegislation.uk/european-single-currency-taxes-regulations-1998/regulation-35.json",
  "legislation": "uksi/1998/3177",
  "legislation_title": "The European Single Currency (Taxes) Regulations 1998",
  "legislation_url": "https://openlegislation.uk/european-single-currency-taxes-regulations-1998",
  "path": "regulation/35",
  "kind": "regulation",
  "number": "35",
  "heading": "Treatment of capital sum receivable on euroconversion of securities",
  "text": "(1) This regulation applies in a case where—\n(a) otherwise than as a result of a transfer of securities that is not an exchange or conversion of securities to which regulation 32 applies, a person becomes entitled in an interest period to a capital sum in connection with a euroconversion of securities, and\n(b) any part of that sum is, on a just and reasonable view—\n(i) attributable to a reduction in the interest payable on those securities, or\n(ii) by way of compensation for a deferral of the interest payable on those securities.\n(2) The person entitled to a capital sum in an interest period as mentioned in paragraph (1)(a) shall be regarded as entitled in that interest period to a sum on the securities, for the purposes of section 713(2)(a) or (3)(a), in an amount equal to the part of the sum referred to in paragraph (1)(b).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1998/3177/regulation/35",
    "retrieved_at": "2026-10-29T11:12:29.943459+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."
}