The Income Tax (Definition of Unit Trust Scheme) (Amendment) Regulations 1992

• Citation: S.I. 1992/571
• Sections: 4

Section 1 Citation and commencement

These Regulations may be cited as the Income Tax (Definition of Unit Trust Scheme) (Amendment) Regulations 1992 and shall come into force on 31st March 1992.

Section 2 Interpretation

In these Regulations “the principal Regulations ” means the Income Tax (Definition of Unit Trust Scheme) Regulations 1988 and “regulation” means a regulation of those Regulations.

Section 3 Amendments to the principal regulations

In regulation 4(2)—

(a) in paragraph (i) of sub-paragraph (a) after the word “situated” there shall be inserted the words “or formerly situated”;

(b) in paragraph (ii) of sub-paragraph (a) after the words “so situated” wherever appearing there shall be inserted the words “or formerly situated”; and

(c) in paragraph (ii) of sub-paragraph (c) after the word “situated” there shall be inserted the words “or formerly situated”.

Section 4 Amendments to the principal regulations

After paragraph (3) of regulation 4 there shall be added—

(4) References in paragraph (2) of this Regulation to land formerly situated in an enterprise zone or in one or more enterprise zones are references to land on which buildings or structures were constructed where the expenditure on such construction was incurred, or was incurred under a conract entered into, at a time when the land was in an enterprise zone, being a time not more than ten years after the land was first included in an enterprise zone.