Regulation 2 Amendments to the Taxation of Securitisation Companies Regulations 2006

(1)

The Taxation of Securitisation Companies Regulations 2006^f1 are amended as follows.

(2)

In regulation 2 (interpretation) in paragraph (1) after the definition of “independent person” insert—

““insurance special purpose vehicle” has the same meaning as in section 431(2) of ICTA^f2;”.

(3)

In regulation 5 (meaning of “note-issuing company”) in paragraph (5)—

(a)

for “consists in one” substitute —

“consists in—

(a)
one”;

(b)

renumber subparagraphs (a) and (b) as paragraphs (i) and (ii) of subparagraph (a) so created; and

(c)

at the end insert—

“; or

(b)
being party to a creditor relationship with an insurance special purpose vehicle.”.

(4)

In regulation 7 (meaning of “intermediate borrowing company”) in paragraph (2)—

(a)

in sub-paragraph (c) omit “or”, and

(b)

at the end insert —

“, or

(e)
an insurance special purpose vehicle.”.

Annotations

f1: S.I. 2006/3296, amended by S.I. 2007/3339.
f2: These definitions were inserted by articles 2 and 4(1) and (2)(c) of S.I. 2006/3270.