Taxation of Chargeable Gains Act 1992 section 287

Orders and regulations made by the Treasury or the Board

Section 287 sets out how the Treasury or HMRC (formerly the Board of Inland Revenue) must exercise their powers to make orders and regulations under the Taxation of Chargeable Gains Act 1992, and the parliamentary oversight that applies to those instruments.

• Orders and regulations made by the Treasury or HMRC under the Act must generally be made by statutory instrument, except for powers under section 288(6) of the Act or under the Taxation (International and Other Provisions) Act 2010.
• Statutory instruments made under this rule are normally subject to the negative resolution procedure, meaning the House of Commons can annul them by passing a resolution.
• The negative resolution procedure does not apply to orders or regulations made under section 265 (designated international organisations) or paragraph 1 of Schedule 9 (gilt-edged securities).
• The negative resolution procedure also does not apply where a different parliamentary procedure is expressly required, or where the order or regulations bring a chargeable gains provision into force or give it effect.