{
  "url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1990/note",
  "json_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1990/note.json",
  "legislation": "uksi/1990/2552",
  "legislation_title": "The Income Tax (Stock Lending) (Amendment) Regulations 1990",
  "legislation_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1990",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations, which come into force on 7th January 1991, amend the Income Tax (Stock Lending) Regulations 1989. The principal changes are to the definition of “other United Kingdom securities” and to the conditions relating to the transfer of overseas securities.\nThe definition of “other United Kingdom securities” is amended by replacing the condition that, where such securities are issued by a non-resident body of persons, dividends payable out of those securities are to constitute relevant foreign dividends for the purposes of section 123 of the Income and Corporation Taxes Act 1988 by a condition that, where such securities are issued by a government or public or local authority outside the United Kingdom, or other non-resident body of persons, they are held on a register in the United Kingdom at the time the stock lending arrangements are made.\nThe conditions relating to the transfer of overseas securities are amended by replacing the conditions that such securities are held overseas and delivered outside the United Kingdom by a requirement that the stock lending arrangement contains a provision for accounting to the Commissioners of Inland Revenue for tax on payments made by the “borrower” to the “lender” in lieu of the dividends that the lender would otherwise have received on those securities.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1990/2552/note",
    "retrieved_at": "2026-10-29T14:54:35.462679+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."
}