The Income Tax (Interest Relief) (Qualifying Lenders) Order 1993

• Citation: S.I. 1993/949
• Sections: 5

Section 1

This Order may be cited as the Income Tax (Interest Relief) (Qualifying Lenders) Order 1993.

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—

Allied Dunbar Mortgages Limited

Briarface Limited

ICS Building Society

Royal Trust Residential Mortgages Limited

Security Pacific EuroFinance, Inc.

Tiphook Financial Services Limited

Trushelfco (1856) Limited

West Bromwich Mortgage Company Limited.

Section 4

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No.2)Order 1987 shall be amended by omitting the words—

The National Commercial Bank

Section 5

Article 3 of the Income Tax (Interest Relief) (Qualifying Lenders) (No.2)Order 1991 shall be amended by omitting the words—

Stars 5 PLC

Stars 6 PLC