{
  "url": "https://openlegislation.uk/taxation-of-securitisation-companies-amendment-regulations-2022/note",
  "json_url": "https://openlegislation.uk/taxation-of-securitisation-companies-amendment-regulations-2022/note.json",
  "legislation": "uksi/2022/465",
  "legislation_title": "The Taxation of Securitisation Companies (Amendment) Regulations 2022",
  "legislation_url": "https://openlegislation.uk/taxation-of-securitisation-companies-amendment-regulations-2022",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations amend the Taxation of Securitisation Companies Regulations 2006 (“the TSCR”).\nRegulation 1 provides for citation, commencement and effect. The Regulations have force from 17 May 2022 but do not apply to a company in relation to a capital market arrangement entered into by it before that date, any capital market investment that is part of such an arrangement or any securities which represent such a capital market investment.\nRegulation 3 amends regulation 2 of the TSCR by amending the definition of “control” for the purposes of determining whether persons are independent persons.\nRegulation 4 amends regulation 5 of the TSCR so as to reduce the minimum total value of the capital market investments made under a capital market arrangement from £10 million to £5 million.\nA Tax Information and Impact Note covering this instrument was published on 30 November 2021 alongside the consultation draft of these Regulations and is available on the website at https://www.gov.uk/government/publications/securitisation-and-insurance-linked-securities-arrangements-allowing-them-to-operate-more-effectively/the-taxation-of-securitisation-companies-amendment-regulations-2022. It remains an accurate summary of the impacts that apply to this instrument.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2022/465/note",
    "retrieved_at": "2026-10-28T22:00:54.009513+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}