The European Single Currency (Taxes) (Amendment) Regulations 2002

• Citation: S.I. 2002/1971
• Sections: 4

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the European Single Currency (Taxes) (Amendment) Regulations 2002 and shall come into force on 1st October 2002.

(2) These Regulations have effect in relation to accounting periods beginning on or after 1st October 2002.

Section 2 Amendment of the European Single Currency (Taxes) Regulations 1998

Amend the European Single Currency (Taxes) Regulations 1998 in accordance with regulations 3 and 4.

Section 3 Amendment of regulation 2

In regulation 2(1)—

(a) omit the definition of “long-term capital asset” and “long-term capital liability”;

(b) omit the definition of “qualifying contract”;

(c) in the definition of “relevant asset” for “a long-term capital asset, a long-term capital liability, an option, a qualifying contract” substitute “an option”.

Section 4 Omission of regulations 7 to 11

Omit regulations 7 to 11.