{
  "url": "https://openlegislation.uk/finance-act-2025/schedule-9/paragraph-24",
  "json_url": "https://openlegislation.uk/finance-act-2025/schedule-9/paragraph-24.json",
  "legislation": "ukpga/2025/8",
  "legislation_title": "Finance Act 2025",
  "legislation_url": "https://openlegislation.uk/finance-act-2025",
  "path": "schedule/9/paragraph/24",
  "kind": "paragraph",
  "number": "24",
  "heading": "FOTRA securities",
  "text": "(1) In section 22 of F(No.2)A 1931 (Treasury power to issue securities with a FOTRA condition), in subsection (1)(b) for “neither domiciled nor” substitute “not”.\n(2) In section 154 of FA 1996 (FOTRA securities), omit subsection (1).\n(3) Any security issued with a FOTRA domicile condition is treated in relation to times on or after 6 April 2025 as if—\n(a) it were a security issued with the post-1996 Act FOTRA conditions (and with no other FOTRA condition), and\n(b) the post-1996 Act FOTRA conditions had been authorised in relation to the issue of that security by virtue of section 22 of F(No.2)A 1931.\n(4) In sub-paragraph (3)—\n“a FOTRA condition” means a condition about exemption from taxation authorised by section 22 of F(No.2)A 1931;\n“a FOTRA domicile condition”, in relation to a security, means a FOTRA condition requiring the security to be in the beneficial ownership of persons who are not domiciled in the United Kingdom for an exemption from taxation to apply;\n“the post-1996 Act FOTRA conditions” means the FOTRA conditions with which 7.25% Treasury Stock 2007 was first issued.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2025/8/schedule/9/paragraph/24",
    "retrieved_at": "2026-10-29T08:47:01.939707+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."
}