CFM46480 | Deemed loan relationships: repos: tax rules: regulation-making powers

Regulation-making powers

CTA09/S554 contains powers to modify some of the provisions of the Schedule to deal with non-standard repos or cases involving the redemption of securities. It corresponds to ICTA88/S737E in the previous rules, which was repealed for arrangements coming into force on or after 1 October 2007.

The Sale and Repurchase of Securities (Modification of Schedule 13 to the Finance Act 2007) Regulations 2007 (SI 2007/2485) deals with non-standard repos involving the substitution of securities, and with repos involving the redemption of securities. It was introduced using the powers in S554