The Income Tax (Building Societies) (Dividends and Interest) (Amendment) Regulations 2001

Amendments to the principal Regulations

7.—(1) Amend regulation 11(1) as follows.

(2) In paragraphs (1), (2) and (2A) omit the words “in writing” (in each place where those words occur).

(3) In paragraph (2AB) for the word “inform”, in both places where it occurs, substitute “notify”.

(4) For paragraph (2AC) substitute—

“(2AC) In a case falling within regulation 4(1)(a), the declaration required by paragraph (2) must contain—

(a) the name and principal residential address of the individual who is beneficially entitled to the payment, or

(b) where two or more individuals are so entitled, the name and principal residential address of each of them, or

(c) where the person who is so entitled is a Scottish partnership all the partners in which are individuals, the name and principal residential address of each of the individuals.”.

(5) For paragraph (3) substitute the following paragraphs—

“(3) Every declaration shall be made in a form provided or authorised by the Board.

(3A) A declaration, if made in writing, shall be signed by the maker of the declaration.

(3B) Where a declaration (“the original declaration”) is not in writing, the building society may—

(a) make a declaration in writing (“the building society declaration”), on behalf of the person who made the original declaration, that the particulars contained in the original declaration are those recorded in the building society declaration, and

(b) send a copy of the building society declaration to that person.

(3C) Subject to any corrections notified by that person to the building society within the period of 30 days following the date on which the copy of the building society declaration was sent to that person, and incorporated in a revised declaration made by the building society, the building society declaration shall take effect as from the date on which the copy of it was sent to that person.

(3D) A declaration shall be regarded as given in writing for the purposes of this regulation if it is given—

(a) by telephonic facsimile transmission, or

(b) by electronic communication containing an electronic signature of the person making it.

(3E) A building society declaration made in accordance with paragraph (3B) or (3C) of this regulation shall be regarded as made in writing if it is produced by electronic means; and the copy of the building society declaration to be sent to a person in accordance with paragraph (3B)(b) may be sent by telephonic facsimile transmission or by electronic communication.”.

(6) In paragraph (5) omit the words “and any certificate”.

(7) In paragraph (6) omit the words “or certificate”.

(8) In paragraph (7) omit the words “and every certificate”.

(9) In paragraph (8) omit the words “and certificates”.

(1)

Regulation 11 was amended by regulation 9 of S.I. 1992/11, regulation 5 of S.I. 1992/2915, regulation 5 of S.I. 1994/296 and regulations 6 and 7 of S.I. 1996/223.