# The Lloyd’s Underwriters (Transitional Equalisation Reserves) (Tax) Regulations 2015, Regulation 2: Interpretation


In these Regulations—
“the 2009 Regulations” means the Lloyd’s Underwriters (Equalisation Reserves) (Tax) Regulations 2009;
“relevant accounting period” is any accounting period ending on or after 31st December 2008 but ending before 1st January 2016;
“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;
“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
“underwriting business” means, in relation to a corporate member or a partnership member, the member’s underwriting business as a member of Lloyd’s.

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Source: https://www.legislation.gov.uk/uksi/2015/1983/regulation/2 (the official version)
Page: https://openlegislation.uk/lloyds-underwriters-transitional-equalisation-reserves-tax-regulations-2015/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.