{
  "url": "https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019/regulation-2",
  "json_url": "https://openlegislation.uk/hybrid-and-other-mismatches-financial-instruments-excluded-instruments-regulations-2019/regulation-2.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": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Financial instruments: excluded instruments",
  "text": "(1) An instrument issued to an associated enterprise is not a financial instrument within section 259N of the Taxation (International and Other Provisions) Act 2010 if it meets the conditions set out in paragraphs (i) to (iv) of point (b) of paragraph 4 of Article 9 of 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.\n(2) For the purposes of paragraph (1), “associated enterprise” has the meaning given in Article 2(4) of that Directive.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 2 in force at 1.1.2020, see reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "OJ No. L 193, 19.7.2016, p. 1, relevantly amended by Council Directive (EU) 2017/952 of 29 May 2017 amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries (OJ No. L 144, 7.6.2017, p. 1)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/1345/regulation/2",
    "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."
}