# The Trading Schemes (Exclusion) (Amendment) Regulations 1997, Regulation 2: Amendments


The Trading Schemes (Exclusion) Regulations 1997 are hereby amended:
(a) 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,”
(b) 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”

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Source: https://www.legislation.gov.uk/uksi/1997/1887/regulation/2 (the official version)
Page: https://openlegislation.uk/trading-schemes-exclusion-amendment-regulations-1997/regulation-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.