{
  "url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1993/note",
  "json_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1993/note.json",
  "legislation": "uksi/1993/2003",
  "legislation_title": "The Income Tax (Stock Lending) (Amendment) Regulations 1993",
  "legislation_url": "https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1993",
  "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 30th September 1993, amend the Income Tax (Stock Lending) Regulations 1989 (S.I. 1989/1299) (previously amended byS.I. 1990/2552 and 1992/572). In addition to minor alterations, the principal changes effected by the amendments are as follows. First, they provide for the application ofsection 57 of the Finance Act 1991 (“section 57”) to transfers of securities made after30th September 1993 in pursuance of stock lending arrangements. Section 57 inserts a new subsection (2A) in section 129 of the Income and Corporation Taxes Act 1988 (“the principal section”) which extends the stock lending arrangements eligible for tax relief under the principal section.\nSecondly, the amendments introduce the concepts of “approved agent” and “approved nominee” in relation to any person acting for an approved lender as an agent or nominee in connection with a stock lending arrangement.\nThirdly, the amendments specify the conditions which must be fulfilled in order forthe reliefs from income tax and capital gains tax conferred by the principal section andsection 271(9) of the Taxation of Chargeable Gains Act 1992 to apply to transfers made in pursuance of the extended arrangements referred to in subsection (2A) of the principal section.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1993/2003/note",
    "retrieved_at": "2026-10-29T13:52:12.040297+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."
}