# Finance (No. 2) Act 1931, Section 22: Provisions in cases where Treasury has power to borrow money.


(1) Any securities issued by the Treasury under any Act may be issued with the condition that—
(a) so long as the securities are in the beneficial ownership of persons who are not ... resident in the United Kingdom, the interest thereon shall be exempt from income tax: and
(b) so long as the securities are in the beneficial ownership of persons who are not ... resident in the United Kingdom, neither the capital thereof nor the interest thereon shall be liable to any taxation present or future.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/Geo5/21-22/49/section/22 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-1931/section-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.