Statutory Instruments
1995 No. 408

INCOME TAX
The Exchange Gains and Losses (Transitional Provisions) (Amendment) Regulations 1995

Made
20th February 1995

Laid before the House of Commons
22nd February 1995

Coming into force
23rd March 1995

The Treasury, in exercise of the powers conferred on them by sections 164(14) and 167(1) and (4) of, and paragraphs 2, 4 and 6 of Schedule 16 to, the Finance Act 1993(1), hereby make the following Regulations:

1.  These Regulations may be cited as the Exchange Gains and Losses (Transitional Provisions) (Amendment) Regulations 1995 and shall come into force on 23rd March 1995 immediately after the Exchange Gains and Losses (Transitional Provisions) Regulations 1994(2).

2.  In the Exchange Gains and Losses (Transitional Provisions) Regulations 1994(2), in regulation 17(1)(a), for the words “its amount or its term (or both)” there shall be substituted the words “both its amount and its term”.

Derek Conway
Tim Wood
Two of the Lords Commissioners of Her Majesty’s Treasury
20th February 1995

Explanatory Note

(This note is not part of the Regulations)
These Regulations make an amendment to regulation 17 of the Exchange Gains and Losses (Transitional Provisions) Regulations 1994 (S.I. 1994/3226) to ensure that the application of Part IV of those Regulations is confined to debts where both the amount and the term are fixed.


(1)
1993 c. 34.

(2)
S.I. 1994/3226.