{
  "url": "https://openlegislation.uk/income-tax-stock-lending-amendment-no-2-regulations-1995/regulation-4",
  "json_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-no-2-regulations-1995/regulation-4.json",
  "legislation": "uksi/1995/3219",
  "legislation_title": "The Income Tax (Stock Lending) (Amendment No. 2) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-no-2-regulations-1995",
  "path": "regulation/4",
  "kind": "regulation",
  "number": "4",
  "heading": "Amendments to the principal Regulations",
  "text": "After regulation 3A there shall be inserted the following regulations—\n“Arrangement for transfer of gilt-edged securities\n3B Where the person referred to as A in the principal section—\n(a) enters into an arrangement mentioned in subsection (1) under which the securities to be transferred are gilt-edged securities, but\n(b) did not enter into the arrangement for the purpose of enabling him to fulfil a contract under which he was required to sell securities,\nthe principal section shall not be prevented from applying by virtue of subsection (2B) of that section on the grounds that A did not enter into the arrangement for the purpose specified in paragraph (b) above.\nReplacement loans\n3C (1) Where the person referred to as A in the principal section—\n(a) enters into an arrangement mentioned in subsection (1) wholly or partly for the purpose of enabling securities of the same kind as those transferred under a previous stock lending arrangement to which the principal section applies to be returned, and\n(b) the arrangement falls with paragraph (2) below,\nthe principal section shall not be prevented from applying by virtue of subsection (2B) of that section on the grounds that A did not enter into the arrangement for the purpose, or wholly for the purpose, of enabling him to fulfil a contract under which he was required to sell securities.\n(2) An arrangement falls within this paragraph if—\n(a) the securities to be transferred under the arrangement are of the same kind as the securities transferred under the previous arrangement, and\n(b) where the arrangement was not entered into wholly for the purpose mentioned in paragraph (1) (a) above, the sole other purpose was to enable A to fulfil a contract under which he was required to sell securities.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/3219/regulation/4",
    "retrieved_at": "2026-10-29T12:55:59.127237+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."
}