Income Tax (Trading and Other Income) Act 2005 section 873

Orders and regulations made by Treasury or Commissioners

Section 873 sets out the rules governing how the Treasury and HMRC make orders and regulations under this Act, including the parliamentary oversight procedures that apply.

• All orders and regulations made by the Treasury or HMRC under this Act must be made by statutory instrument
• Such statutory instruments are generally subject to annulment by a resolution of the House of Commons (the "negative procedure")
• Certain specified orders and regulations are exempt from the negative procedure, including those relating to urban regeneration companies, purchased life annuity payments, securities issued by designated international organisations, qualifying care relief indexation, and transitional or saving provisions
• The negative procedure also does not apply where a different parliamentary procedure is expressly required for the particular order or regulations in question