Regulation 3 Amendments to the principal Regulations

(1)

Regulation 2(1) shall be amended as follows.

(2)

After the definition of “the Board” there shall be inserted the following definitions—

““charitable unit trust scheme” has the meaning given by regulation 2(1) of the Income Tax (Definition of Unit Trust Scheme) Regulations 1988^f1;

“common investment fund” has the meaning given by regulation 2D(2);”.

(3)

In the definition of “eligible person”—

(a)

after paragraph (b) there shall be inserted the following paragraph—

“(ba)

a trustee or the manager of a charitable unit trust scheme falling within paragraph (d) of that subsection,”;

(b)

the word “or” immediately following paragraph (d) shall be omitted, and after paragraph (e) there shall be added the following paragraphs—

“(f)

a person who is entitled to relief from tax in respect of relevant payments and relevant receipts falling within regulation 2A,

(g)

where the relevant payment or relevant receipt falls within regulation 2B, the plan manager concerned,

(h)

where the relevant payment or relevant receipt falls within regulation 2C, the trustee or the manager of the pension funds pooling scheme concerned,

(i)

where the relevant payment or relevant receipt falls within regulation 2D, a trustee or the investment manager of the common investment fund concerned,

(j)

where the relevant payment or relevant receipt falls within regulation 2E, any person entitled to immunity or exemption from income tax as mentioned in that regulation,

(k)

a local authority in the United Kingdom, a local authority association within the meaning given by section 519(3) and a health service body within the meaning given by section 519A(2)^f2,

(l)

where the relevant receipt falls within regulation 2J, the person referred to in that regulation,

(m)

where the relevant receipt falls within regulation 2K, the bank referred to in that regulation, or

(n)

where the relevant receipt falls within regulation 2L, a trustee of the qualifying discretionary or accumulation trust referred to in that regulation;”.

(4)

After the definition of “eligible person” there shall be inserted the following definitions—

““manufactured overseas dividend” means a manufactured overseas dividend (within the meaning given by paragraph 4(1) of Schedule 23A^f3) to which regulation 12(1) of the Manufactured Overseas Dividends Regulations applies, except that it does not include a payment that is treated under section 737A(5)^f4 as having been made;

“the Manufactured Overseas Dividends Regulations” means the Income Tax (Manufac tured Overseas Dividends) Regulations 1993^f5;”.

(5)

After the definition of “notice” there shall be inserted the following definitions—

““pension funds pooling scheme” has the meaning given by regulation 2C(2);

“plan manager” shall be construed in accordance with regulation 2B(2);”.

(6)

After the definition of “the principal sections” there shall be inserted the following definition—

““qualifying discretionary or accumulation trust” shall be construed in accordance with section 118G(5)^f6;”.

Annotations

Footnotes

f1: S.I. 1988/267; relevant amending instruments are S.I. 1992/3133 and 1994/1479.
f2: Section 519A was inserted by section 61(1) of the National Health Service and Community Care Act 1990 (c. 19), and was amended by the Health and Personal Social Services (Northern Ireland Consequential Amendments) Order 1991 (S.I. 1991/195 (N.I.)) and paragraph 114 of Schedule 1, and Schedule 3, to the Health Authorities Act 1995 (c. 17).
f3: Schedule 23A was inserted by paragraph 1 of Schedule 13 to the Finance Act 1991 (c. 31). Paragraph 4 of Schedule 23A was amended by section 159(4) to (6) of the Finance Act 1996 and by paragraph 28(2) of Schedule 7, paragraph 52(4) of Schedule 14, paragraph 7 of Schedule 29 and Part V(21) of Schedule 41, to that Act.
f4: Section 737A was inserted by section 122 of the Finance Act 1994 (c. 9) and amended by Part VI(10) of Schedule 18 to the Finance Act 1997 (c. 16).
f5: S.I. 1993/2004; relevant amending instruments are S.I. 1996/1229 and 2643 and 1997/2706.
f6: Section 118G(5) was amended by Part VI(7) of Schedule 18 to the Finance Act 1997.