Explanatory note

These Regulations amend the Premium Savings Bonds Regulations 1972.

First, they revoke regulation 24, which provided that certain warrants and powers of attorney should be exempt from stamp duty, as those documents are no longer liable to stamp duty. Secondly, they amend regulation 30, which imposes an obligation of secrecy, to make it subject to section 20(4)(b) of the Taxes Management Act 1970 (persons who may be required to produce documents relating to liability of taxpayer arising from business) which was extended to cover the Director of Savings by section 126 of the Finance Act 1988.