(1)Where—
(a)the United Kingdom or any of the Communities is a member of an international organisation; and
(b)the agreement under which it became a member provides for exemption from tax, in relation to the organisation, of the kind for which provision is made by this section;
the Treasury may by order designate that organisation for the purposes of this section.
(2)The Treasury may by order designate any of the Communities or the European Investment Bank for the purposes of this section.
(3)Where an organisation has been designated for the purposes of this section, then any security issued by the organisation shall be taken, for the purposes of [F1this Act], to be situated outside the United Kingdom.
Textual Amendments
F1Words in s. 265(3) substituted (with effect in accordance with Sch. 4 para. 10(1) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 4 para. 3(2)