{
  "url": "https://openlegislation.uk/european-single-currency-taxes-regulations-1998/regulation-45",
  "json_url": "https://openlegislation.uk/european-single-currency-taxes-regulations-1998/regulation-45.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/45",
  "kind": "regulation",
  "number": "45",
  "heading": "Election for whole trade where part trade election already exists",
  "text": "For regulation 3(2) there shall be substituted—\n“(2) An election made by a company under this regulation for a trade for an accounting period shall be of no effect if—\n(a) an election (“the previous election”) has previously been made by the company under regulation 4 in a different currency for that accounting period and any part of that trade, and\n(b) the previous election remains in force as respects that trade and that accounting period.\n(3) Where—\n(a) an election (“the new election”) is made by a company under this regulation for a trade for an accounting period, and\n(b) an election (“the previous election”) has previously been made by the company under regulation 4 in the same currency for that accounting period and any part of that trade,\nthe new election shall be taken to replace the previous election with effect from the beginning of the first accounting period to which the new election applies.”",
  "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/45",
    "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."
}