The Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1992

• Citation: S.I. 1992/3219
• Sections: 7

Section 1

This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1992.

Section 2

The bodies named in article 3 below are prescribed for the purposes of section 376 of the Income and Corporation Taxes Act 1988 and shall become qualifying lenders with effect from the dates and in respect of the loans specified in the following paragraphs—

(a) with effect from the thirtieth day after the making of this Order, in relation to new loans (that is loans which are made on or after that day);

(b) with effect from the making of this Order, in relation to transferred loans (that is loans transferred from another qualifying lender on or after the making of this Order the interest on which is at the time of transfer relevant loan interest payable by a qualifying borrower);

(c) with effect from the 6th April 1993, in relation to other loans made by the body concerned before the thirtieth day after the making of this Order.

Section 3

The following are the bodies referred to in article 2 above—

First National Building Society

Irish Permanent Building Society

Portman Financial & Mortgage Services Limited

Portman Land Services Limited

Portman Loans Limited

Portman Mortgage Services Limited.

Section 4

Article 2 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1985 shall be amended by omitting the words—

“Carolina Bank Limited”.

Section 5

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No. 2) Order 1986 shall be amended by omitting the words—

“Boston Safe Deposit and Trust Company”.

Section 6

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No. 3) Order 1986 shall be amended by omitting the words—

“Société Générale”.

Section 7

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) Order 1989 shall be amended by omitting the words—

BT Mortgages Limited

B.T.I. Investments Limited

Mortgage Asset Residential Securities NO. 1 PLC

Mortgage Asset Residential Securities NO. 2 PLC