2. In these Regulations unless the context otherwise requires—
“the Board” means the Commissioners of Inland Revenue;
“payment” (except in relation to a payment to the Board) includes "credit";
“payment quarter” means a period of three months ending with the last day of February, May, August or November;
“the 1986 Regulations” mean the Income Tax (Building Societies) Regulations 1986(1);
“section 349(1) payment” means a payment by a building society of any annuity or other annual payment from which income tax is deductible under section 349(1) of the Taxes Act(2) and includes such a payment made after 28th February 1991 and before 6th April 1991 to which regulation 3 of the 1986 Regulations applied;
“Schedule 16” means Schedule 16 to the Taxes Act;
“the Taxes Act” means the Income and Corporation Taxes Act 1988.
Section 349 was amended by section 148 of, and Part IV of Schedule 14 to, the Finance Act 1988 (c. 39) and by paragraph 10 of Schedule 5 to the Finance Act 1990 (c. 29).