Regulation 2 Interpretation

In these Regulations—

• “the Act” means the Value Added Tax Act 1983;

• “authorised person” means a person who has been authorised by the Commissioners in accordance with regulation 3 of these Regulations, and“authorised” and“authorisation” shall be construed accordingly;

• “current accounting year” means the period of twelve months commencing at the date of authorisation by the Commissioners set out in regulation 3 below or, while a person remains authorised, the most recent anniversary thereof, and is a prescribed accounting period within the meaning of section 14(1) of the Act.

• “registered” means registered under Schedule 1 to the Act and“registration” shall be construed accordingly.