{
  "url": "https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019/note",
  "json_url": "https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019/note.json",
  "legislation": "uksi/2019/1345",
  "legislation_title": "The Hybrid and Other Mismatches (Financial Instruments: Excluded Instruments) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations make provisions implementing Council Directive (EU) 2016/1164 of 12 July 2016 laying down rules against tax avoidance practices that directly affect the functioning of the internal market.\nRegulation 1 provides for citation commencement and effect. These Regulations only have effect in relation to payments made on or after 1 January 2020 and before 1 January 2023.\nRegulation 2 makes provision to exclude instruments which satisfy the conditions in paragraphs (i) to (iv) of point (b) of paragraph 4 of Article 9 of that Directive from the definition of “financial instrument” in section 259N of the Taxation (International and Other Provisions) Act 2010.\nRegulation 3 revokes the Hybrid and Other Mismatches (Financial Instrument: Exclusions) Regulations 2019.\nA Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.",
  "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/uksi/2019/1345/note",
    "retrieved_at": "2026-10-28T22:36:41.984363+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."
}