# The Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 2001, Regulation 5: Amendments to the principal Regulations


In regulation 4(1) after sub-paragraph (t) add—
“(u) a payment of interest in respect of an amount of cash which is—
(i) received by the building society in connection with a sale and repurchase agreement in circumstances where section 730A of the Taxes Act (treatment of price differential on sale and repurchase of securities) applies, and
(ii) required as a result of a variation in the value of the securities as security for performance by the parties to the agreement of their obligations under the agreement.”.

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Source: https://www.legislation.gov.uk/uksi/2001/404/regulation/5 (the official version)
Page: https://openlegislation.uk/income-tax-building-societies-dividends-and-interest-amendment-regulations-2001/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.