- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Taxation of Regulatory Capital Securities Regulations 2013 (revoked) No. 3209
8.—(1) Regulations 3 to 7 do not apply in the case of a regulatory capital security if there are arrangements the main purpose, or one of the main purposes, of which is to obtain a tax advantage for any person as a result of the application of these Regulations in respect of that security.
(2) In paragraph (1), “tax advantage” has the meaning given in section 1139 of CTA 2010.
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