# The Taxation of Securitisation Companies (Amendment No.2) Regulations 2007, Regulation 2: Amendments to the Taxation of Securitisation Companies Regulations 2006


(1) The Taxation of Securitisation Companies Regulations 2006 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;”.
(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.”.

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Source: https://www.legislation.gov.uk/uksi/2007/3401/regulation/2 (the official version)
Page: https://openlegislation.uk/taxation-of-securitisation-companies-amendment-no2-regulations-2007/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.