The Gilt-edged Securities (Periodic Accounting for Tax on Interest) (Amendment) Regulations 1996

• Citation: S.I. 1996/1015
• Sections: 2

Section 1

(1) These Regulations may be cited as the Gilt-edged Securities (Periodic Accounting for Tax on Interest) (Amendment) Regulations 1996 and shall come into force on 22nd April 1996.

(2) These Regulations have effect as respects cheques received on or after the day on which these Regulations come into force.

Section 2

(1) The Gilt-edged Securities (Periodic Accounting for Tax on Interest) Regulations 1995 shall be amended as follows.

(2) The paragraph set out in paragraph (3) below shall be inserted—

(a) in regulation 16 after paragraph (2) as paragraph (3);

(b) in regulation 19 after paragraph (5) as paragraph (6); and

(c) in regulation 20 after paragraph (9) as paragraph (10).

(3) The paragraph referred to in paragraph (2) above is—

For the purposes of this regulation, where—

any payment to an officer of the Board is made by cheque, and

the cheque is paid on its first presentation to the banker on whom it is drawn,

the payment shall be treated as made on the day on which the cheque was received by the officer of the Board.