PART III OTHER RETURNS AND INFORMATION
18BF1Savings income: regulations about European and international aspects
1
The Treasury may make regulations for implementing and for dealing with matters arising out of or related to—
a
any EU obligation created with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the laws of the other member States, and
b
any arrangements made with a territory other than a member State with a view to ensuring the effective taxation of savings income under the law of the United Kingdom and the law of the other territory.
2
In this section “savings income” means—
a
interest, apart from interest of a prescribed description, or
b
other sums of a prescribed description.
3
The power to make regulations under this section is exercisable 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.