2.—(1) In these Regulations unless the context otherwise requires—
“Board” means the Commissioners of Inland Revenue;
“inspector” includes any officer of the Board;
“managing agent” and
“members' agent” have the meanings that they have in Schedule 19A;
“member” means an underwriting member of Lloyd's;
“Schedule 19A” means Schedule 19A to the Income and Corporation Taxes Act 1988;
“section 142A” means section 142A of the Capital Gains Tax Act 1979;
“section 450” means section 450 of the Income and Corporation Taxes Act 1988(1);
“syndicate gains” means the chargeable gains accruing to a member on the disposal ofassets forming part of a premiums trust fund;
“syndicate investment income” means the profits or gains arising to a member from assets formingpart of a premiums trust fund;
“the Taxes Acts” means the Taxes Management Act 1970(2) and—
the Tax Acts, and
the Capital Gains Tax Act 1979 and all other enactments relating tocapital gains tax.
(2) For the purposes of construing any reference in these Regulations tothe year of assessment which corresponds to an underwriting year or tothe underwriting year which corresponds to a year of assessment, anunderwriting year and a year of assessment correspond to each other ifthe underwriting year ends in the year of assessment.
Section 450 was amended by sections 58(1), 59(1) and60(1) of the Finance Act 1988 (c. 39).