{
  "url": "https://openlegislation.uk/lloyds-underwriters-transitional-equalisation-reserves-tax-regulations-2015/regulation-2",
  "json_url": "https://openlegislation.uk/lloyds-underwriters-transitional-equalisation-reserves-tax-regulations-2015/regulation-2.json",
  "legislation": "uksi/2015/1983",
  "legislation_title": "The Lloyd’s Underwriters (Transitional Equalisation Reserves) (Tax) Regulations 2015",
  "legislation_url": "https://openlegislation.uk/lloyds-underwriters-transitional-equalisation-reserves-tax-regulations-2015",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations—\n“the 2009 Regulations” means the Lloyd’s Underwriters (Equalisation Reserves) (Tax) Regulations 2009;\n“relevant accounting period” is any accounting period ending on or after 31st December 2008 but ending before 1st January 2016;\n“relevant deduction” is an amount deducted by a corporate member or a partnership member in computing the member’s profits or losses in a relevant accounting period as a result of the application of section 444BA(2)(a) of ICTA under regulation 3(3) (reserves maintained by Lloyd’s members which are equivalent to equalisation reserves) of the 2009 Regulations;\n“relevant receipt” is an amount treated as a receipt of the underwriting business of a corporate member or a partnership member in a relevant accounting period as a result of the application of section 444BA(2)(b) of ICTA under regulation 3(3) of the 2009 Regulations; and\n“underwriting business” means, in relation to a corporate member or a partnership member, the member’s underwriting business as a member of Lloyd’s.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2009/2039."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "1988 c. 1; section 444BA(2) was inserted by paragraph 1 of Schedule 32 to the Finance Act 1996 (c. 8)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2015/1983/regulation/2",
    "retrieved_at": "2026-10-28T23:29:35.186363+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."
}