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Amendments to the principal Regulations
5. In regulation 4(1) after sub-paragraph (t)() add—
“(u)a payment of interest in respect of an amount of cash which is—
(i)received by the building society in connection with a sale and repurchase agreement in circumstances where section 730A of the Taxes Act (treatment of price differential on sale and repurchase of securities) applies(), and
(ii)required as a result of a variation in the value of the securities as security for performance by the parties to the agreement of their obligations under the agreement.”.
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