# The Social Security (Contributions) (Amendment No. 5) Regulations 2003, Regulation 10: Amendment of the principal Regulations


(1) Amend Part 3 (payments by way of readily convertible assets which are not disregarded as payments in kind) as follows.
(2) For paragraphs 1 and 2 substitute—
“1. A readily convertible asset within the meaning of section 702 of ITEPA 2003.
2. An asset which, in accordance with section 697 of ITEPA 2003 (PAYE: enhancing the value of an asset), would be treated, for the purposes of section 696 of that Act, as a readily convertible asset.”.

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Source: https://www.legislation.gov.uk/uksi/2003/2085/regulation/10 (the official version)
Page: https://openlegislation.uk/social-security-contributions-amendment-no-5-regulations-2003/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.