http://www.legislation.gov.uk/uksi/1996/2646/note/made
The Finance Act 1996, section 159,(Appointed Day) Order 1996
Tax
King's Printer of Acts of Parliament
2011-07-04
INCOME TAX
Section 159(1) of the Finance Act 1996 provides that sections 729, 737A(2)(b) and 786(4) of the Income and Corporation Taxes Act 1988 (c. 1) (provisions applying to sale and repurchase agreements) shall cease to have effect except in relation to cases where the initial agreement to sell or transfer the securities of other property was made before the appointed day. Section 159(3) of the 1996 Act amends section 737C of the 1988 Act (which makes further provision in relation to deemed manufactured payments arising from sale and repurchase agreements) where the initial agreement to sell the securities is made on or after the appointed day.
(This note is not part of the Regulations)
Section 159(1) of the Finance Act 1996 provides that sections 729, 737A(2)(b) and 786(4) of the Income and Corporation Taxes Act 1988 (c. 1) (provisions applying to sale and repurchase agreements) shall cease to have effect except in relation to cases where the initial agreement to sell or transfer the securities of other property was made before the appointed day. Section 159(3) of the 1996 Act amends section 737C of the 1988 Act (which makes further provision in relation to deemed manufactured payments arising from sale and repurchase agreements) where the initial agreement to sell the securities is made on or after the appointed day.
This Order appoints 6th November 1996 as the day in question.