
1 
These Regulations may be cited as the Trading Schemes (Exclusion) (Amendment) Regulations 1997 and shall come into force on 21st August 1997.
2 
The Trading Schemes (Exclusion) Regulations 1997 are hereby amended:
(a) in regulation 3(a), by substituting for the words from the beginning of that paragraph to the word “does”:—“any trading scheme which is a single tier trading scheme under which a participant operating at a level immediately below that of the promoter or single participant in the UK, who introduces another participant to the scheme at that level,”
(b) by substituting the following for regulation 3(b):—“
(b) any trading scheme all of the participants in which are making or have the intention of making taxable supplies in the UK and are registered for Value Added Tax; or”
Nigel Griffiths,
Parliamentary Under-Secretary of State for Competition and Consumer Affairs,
Department of Trade and Industry
30th July 1997