Regulation 2 Interpretation

In these Regulations unless the context otherwise requires—

• “the Act” means the Income and Corporation Taxes Act 1988;

• “agreement” means agreement in writing and “agree” shall be construed accordingly;

• “audit report” means a report made by an auditor in respect of an audit carried out pursuant to these Regulations;

• “auditor” means an individual or firm whose name appears in the register of auditors kept pursuant to the Companies Act 1989 (Register of Auditors and Information about Audit Firms) Regulations 1991^f1;

• “the Board” means the Commissioners of Inland Revenue;

• “deposit”, “deposit-taker” and “relevant deposit” have the meanings given by section 481 of the Act^f2;

• “excluded deposit” has the meaning given by regulation 5;

• “notice” means notice in writing;

• “payment” (except in relation to a payment to the Board) includes “credit” and “paid” shall be construed accordingly;

• “Special Reports booklet” means the booklet entitled “Special Reports of Accountants” published by the Auditing Practices Committee of the Consultative Committee of Accountancy Bodies in 1984.