Section 658 | Powers to modify: supplementary

(1)Regulations under section 656 or 657 may make different provision for different cases.

(2)Regulations under either section may contain incidental, supplemental, consequential and transitional provision and savings.

(3)In this section and sections 656 and 657 “modifications” includes exceptions and omissions.

(4)Accordingly, a power in sections 656 and 657 to provide for a provision to apply with modifications in relation to a particular case includes power to provide for the provision not to apply in relation to that case.

(5)Subsections (6) to (10) apply for the purposes of sections 656 and 657 and this section.^F1

(6)“UK shares” means shares in a UK resident company.^F1

(7)“UK securities” means securities of—^F1

(a)the government of the United Kingdom,^F1

(b)a local authority in the United Kingdom,^F1

(c)another public authority in the United Kingdom, or^F1

(d)a UK resident company or other UK resident body.^F1

(8)But “UK securities” does not include UK shares.^F1

(9)“Overseas securities” means shares, stock or other securities issued by—^F1

(a)a government, local authority or other public authority of a territory outside the United Kingdom, or^F1

(b)another non-UK resident body of persons.^F1

(10)“Overseas securities” includes shares in a non-UK resident company.^F1