Regulation 2 Amendments

in regulation 3(a), by substituting for the words from the beginning of that paragraph to the word “does”:—

“any trading scheme which is a single tier trading scheme under which a participant operating at a level immediately below that of the promoter or single participant in the UK, who introduces another participant to the scheme at that level,”

by substituting the following for regulation 3(b):—

“(b)

any trading scheme all of the participants in which are making or have the intention of making taxable supplies in the UK and are registered for Value Added Tax; or”