
1 
These Regulations may be cited as the Stock Lending and Manufactured Payments (Revocations and Amendments) Regulations 1997 and shall come into force on 1st July 1997.
2 
The Regulations specified in Schedule 1 to these Regulations are hereby revoked except in relation to any arrangement mentioned in subsection (1), (2) or (2A) of section 129 of the Income and Corporation Taxes Act 1988 that is entered into before 1st July 1997.
3 
The Income Tax (Dividend Manufacturing) Regulations 1992 are hereby revoked except in relation to any payment of a manufactured dividend to which those Regulations apply that is made before 1st July 1997.
4 
The Regulations specified in Schedule 2 to these Regulations are hereby revoked except in relation to any payment of manufactured interest to which those Regulations apply that is made before 1st July 1997.
5 
The Income Tax (Unapproved Manufactured Payments) Regulations 1996 are hereby revoked except in relation to any payment of a manufactured dividend to which those Regulations apply that is made before 1st July 1997.
6 
The Income Tax (Manufactured Dividends) (Tradepoint) Regulations 1995 are hereby revoked except in relation to any payment of a manufactured dividend to which those Regulations apply that is made before 1st July 1997.
7 

(1) In each of the provisions specified in paragraph (2), for “3A” there shall be substituted “3A(2)(a)”.
(2) The provisions specified are—
(a) the definition of “manufactured payment” in regulation 2(1) of the Gilt-edged Securities (Periodic Accounting for Tax on Interest) Regulations 1995;
(b) the definition of “manufactured payment” in regulation 2(1) of the Lloyd’s Underwriters (Gilt-edged Securities) (Periodic Accounting for Tax on Interest) Regulations 1995;
(c) regulation 6 of the Insurance Companies (Gilt-edged Securities) (Periodic Accounting for Tax on Interest) Regulations 1995, in sub-paragraphs (5)(b) and (15) of the inserted paragraph 1A of Schedule 19AB to the Income and Corporation Taxes Act 1988.
8 

(1) The Income Tax (Manufactured Overseas Dividends) Regulations 1993 shall be amended in accordance with paragraphs (2) to (4).
(2) In regulation 2B(1) the words “, and paragraph 5”, shall be omitted.
(3) Regulation 7A shall be omitted.
(4) Regulation 16 shall be omitted.
(5) The omission of regulation 16 by paragraph (4) shall have effect in relation to—
(a) transactions entered into on or after 1st July 1997 in respect of which information may be obtained under section 21 of the Taxes Management Act 1970, and
(b) payments made on or after that date (whether under transactions entered into before, or under transactions entered into on or after, that date) in respect of which information may be obtained under that section.
Roger Knapman
Richard Ottaway
Two of the Lords Commissioners of Her Majesty’s Treasury
20th March 1997
SCHEDULE 1
Regulation 2


Regulations revoked References
The Income Tax (Stock Lending) Regulations 1989. S.I.1989/1299.
The Income Tax (Stock Lending) (Amendment) Regulations 1990. S.I. 1990/2552.
The Income Tax (Stock Lending) (Amendment) Regulations 1992. S.I. 1992/572.
The Income Tax (Stock Lending) (Amendment) Regulations 1993. S.I. 1993/2003.
The Income Tax (Stock Lending) (Amendment) Regulations 1995. S.I. 1995/1283.
The Income Tax (Stock Lending) (Amendment No. 2) Regulations 1995. S.I. 1995/3219.
The Income Tax (Stock Lending) (Amendment) Regulations 1996. S.I. 1996/1228.
SCHEDULE 2
Regulation 4


Regulations revoked References
The Income Tax (Manufactured Interest) Regulations 1992. S.I. 1992/2074.
The Income Tax (Manufactured Interest) (Amendment) Regulations 1995. S.I. 1995/3221.
The Income Tax (Manufactured Interest) (Amendment) Regulations 1996. S.I. 1996/1227.