# The Income Tax (Stock Lending) (Amendment) Regulations 1996, Regulation 6: Amendments to the principal Regulations


For regulation 4 there shall be substituted the following regulation—
“Application of subsection (3) and section 271(9)
4 (1) Neither subsection (3) nor section 271(9) shall apply to a transfer, or a disposal and acquisition, made in pursuance of an arrangement mentioned in subsection (1) or (2) unless—
(a) in relation to an arrangement under which the securities to be transferred are United Kingdom equity securities, not being an arrangement falling within sub-paragraph (b) below, the conditions specified in regulation 6 are fulfilled, or
(b) in relation to an arrangement under which United Kingdom equity securities are to be transferred to a member, the conditions specified in regulation 6A are fulfilled.
(2) Neither subsection (3) nor section 271(9) shall apply to a transfer, or a disposal and acquisition, made in pursuance of an arrangement mentioned in paragraph (a) of subsection (2A), unless the securities to be transferred are securities other than United Kingdom equity securities.”

---
Source: https://www.legislation.gov.uk/uksi/1996/1228/regulation/6 (the official version)
Page: https://openlegislation.uk/income-tax-stock-lending-amendment-regulations-1996/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.