The Income Tax (Stock Lending) (Amendment) Regulations 1993
These Regulations, which come into force on 30th September 1993, amend the Income Tax (Stock Lending) Regulations 1989 (S.I. 1989/1299) (previously amended byS.I. 1990/2552 and 1992/572). In addition to minor alterations, the principal changes effected by the amendments are as follows. First, they provide for the application ofsection 57 of the Finance Act 1991 (“section 57”) to transfers of securities made after30th September 1993 in pursuance of stock lending arrangements. Section 57 inserts a new subsection (2A) in section 129 of the Income and Corporation Taxes Act 1988 (“the principal section”) which extends the stock lending arrangements eligible for tax relief under the principal section.