Section 30C | Special tax credit: applicable rate of interest ^F1

(1)The reference in section 30B(6)(d) to the applicable rate is to a rate provided for in regulations made by the Treasury.

(2)Regulations under this section may—

(a)provide for the rate to be determined, and to change from time to time, by reference to a rate referred to in the regulations;

(b)include provision for different rates to apply at different times in a period for which interest is due to a person.

(3)Regulations under this section are to be made by statutory instrument.

(4)A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of the House of Commons.