
1 

(1) These Regulations may be cited as the Income Tax (Interest Relief) (Housing Associations) (Amendment) Regulations 1996 and shall come into force on 4th November 1996.
(2) These Regulations shall have effect with respect to any payment of interest made on or after 4th November 1996.
2 
In these Regulations “the principal Regulations” means the Income Tax (Interest Relief) (Housing Associations) Regulations 1988 and “regulation” means a regulation of those Regulations.
3 
In regulation 4, in the substituted subsection (1) of section 369 of the Income and Corporation Taxes Act 1988, for the words following “thereof;” there shall be substituted the words —“and accordingly —
(a) subsections (2) and (3) of section 486 (interest paid by registered industrial and provident societies) shall not apply to the payment of that relevant loan interest, and
(b) that relevant loan interest shall not be brought into account by way of any debit given for the purposes of Chapter II of Part IV of the Finance Act 1996 (loan relationships).”
Michael Bates Roger Knapman
Two of the Lords Commissioners of Her Majesty’s Treasury
14th October 1996