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Income Tax (Trading and Other Income) Act 2005

Section 695: Investment plans

2674.This section contains the powers under which regulations may be made to provide rules about the form of the investment plans in which investments are held and about the investments which may be held in them. It is based on section 333 of ICTA.

2675.Subsections (3) and (4) provide for approval and registration by the Board of Inland Revenue respectively. References to “the Board of Inland Revenue” (rather than to the Inland Revenue) must remain as the power to make regulations is conferred on the Board under the Inland Revenue Regulation Act 1890 and not on the Inland Revenue or its officers.

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