The Exchange Gains and Losses (Transitional Provisions) (Amendment) Regulations 1996
These Regulations amend the Exchange Gains and Losses (Transitional Provisions) Regulations 1994 (S.I. 199413226) (“the principal Regulations”). Regulations 3,5 to 7, and 9 make amendments which reflect the provisions of the Finance Act 1996 for taxing and relieving profits or losses on loan relationships with effect from 1st April 1996. Regulations 4 and 8 amend provisions of the principal Regulations for the making of elections.