xmlns:atom="http://www.w3.org/2005/Atom"
5. In regulation 4(1) after sub-paragraph (t)(1) add—
“(u)a payment of interest in respect of an amount of cash which is—
(i)received by the building society in connection with a sale and repurchase agreement in circumstances where section 730A of the Taxes Act (treatment of price differential on sale and repurchase of securities) applies(2), and
(ii)required as a result of a variation in the value of the securities as security for performance by the parties to the agreement of their obligations under the agreement.”.
Regulation 4(1)(t) was added by regulation 2 of S.I. 1995/1184.
Section 730A was inserted by section 80(1) of the Finance Act 1995 (c. 4) and amended by paragraph 37 of Schedule 14 to the Finance Act 1996 (c. 8).