{
  "url": "https://openlegislation.uk/local-currency-elections-regulations-1994/regulation-3",
  "json_url": "https://openlegislation.uk/local-currency-elections-regulations-1994/regulation-3.json",
  "legislation": "uksi/1994/3230",
  "legislation_title": "The Local Currency Elections Regulations 1994",
  "legislation_url": "https://openlegislation.uk/local-currency-elections-regulations-1994",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Elections for trades",
  "text": "(1) Subject to the following provisions of these Regulations, a company carrying on a trade may by notice given to the inspector elect to have the basic profits and losses of the trade computed and expressed for the purposes of corporation tax in a specified local currency.\n(2) A company may not make an election under this regulation for a trade for an accounting period if there is in force an election under regulation 4 for that accounting period and any part of that trade.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/3230/regulation/3",
    "retrieved_at": "2026-10-29T13:20:05.059381+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."
}