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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

The Finance Act 2007 makes new provision relating to arrangements involving the sale and purchase of securities (more commonly known as “repos”).

This Order is made under powers conferred by the new legislation. Articles 2 to 4 amend existing Regulations to take account of the new provisions relating to repos; and article 5 revokes the Sale and Purchase of Securities (Modification of Enactments) Regulations 1995 (S.I. 1995/3220).

A full regulatory impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.