The Income Tax (Stock Lending) (Amendment) Regulations 1992
These Regulations, which come into force on 22nd March 1992, are made undersection 129(4) of the Income and Corporation Taxes Act 1988 (“Section 129”). They amend the Income Tax (Stock Lending) Regulations 1989 (S.I. 1989/1299, amended byS.I. 1990/2552) (“the principal Regulations”) in consequence of the merger of the London International Financial Futures Exchange and the London Traded Options Market of the London Stock Exchange to form the London International Financial Futures and Options Exchange (“LIFFE”). The Regulations specify the conditions which must be fulfilled before the relief from income tax and capital gains tax conferred by section 129 and by section 271(9) of the Taxation of Chargeable Gains Act 1992 (formerly section 149B(9) of the Capital Gains Tax Act 1979) can apply to transfers of securities to members of LIFFE.