Income Tax (Trading and Other Income) Act 2005 section 452

Power to modify this Chapter for strips

Section 452 gives the Treasury the power to make regulations adapting the rules in this Chapter so that they apply appropriately to strips of government securities.

• The Treasury may make regulations modifying how this Chapter applies to strips
• Any modifications made must be ones the Treasury considers appropriate
• This power does not limit the separate general power to make regulations about gilt stripping under section 202 of the Finance Act 1996
• The provision exists to allow the rules to respond to future developments in the strips market