Regulation 40 Transitional and savings provisionsI1
United Kingdom
A person is to be treated as a foreign institution for the purposes of section 697 of the Income Tax (Trading and Other Income) Act 2005 if—
(a)
immediately before these Regulations come into force the person falls within paragraph (a) or (b) of subsection (2) of that section, and
(b)
the person is for the time being a person to whom regulation 8, 11, 28 or 34 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 applies.