Statutory Instrument 1996 No. 1179

The European Investment Bank (Designated International Organisation) Order 1996

---

© Crown Copyright 1996

Statutory Instruments printed from this website are printed under the superintendence and authority of the Controller of HMSO being the Queen's Printer of Acts of Parliament.

The legislation contained on this web site is subject to Crown Copyright protection. It may be reproduced free of charge provided that it is reproduced accurately and that the source and copyright status of the material is made evident to users.

It should be noted that the right to reproduce the text of Statutory Instruments does not extend to the Queen's Printer imprints which should be removed from any copies of the Statutory Instrument which are issued or made available to the public. This includes reproduction of the Statutory Instrument on the Internet and on intranet sites. The Royal Arms may be reproduced only where they are an integral part of the original document.

The text of this Internet version of the Statutory Instrument which is published by the Queen's Printer of Acts of Parliament has been prepared to reflect the text as it was Made. A print version is also available and is published by The Stationery Office Limited as the The European Investment Bank (Designated International Organisation) Order 1996, ISBN 0110546571. The print version may be purchased by clicking here. Braille copies of this Statutory Instrument can also be purchased at the same price as the print edition by contacting TSO Customer Services on 0870 600 5522 or e-mail:customer.services@tso.co.uk.

Further information about the publication of legislation on this website can be found by referring to the Frequently Asked Questions.

To ensure fast access over slow connections, large documents have been segmented into "chunks". Where you see a "continue" button at the bottom of the page of text, this indicates that there is another chunk of text available.

1996 No. 1179

INCOME TAX

The European Investment Bank (Designated International Organisation) Order 1996

The Treasury, in exercise of the powers conferred on them by sections 349(3AB) and 840A(1)(d) of the Income and Corporation Taxes Act 1988^[1], hereby make the following Order:

    1.    This Order may be cited as the European Investment Bank (Designated International Organisation) Order 1996.

    2.    In this Order —
"relevant international organisation" has the meaning given by section 840A(3) of the Taxes Act;


"the Taxes Act" means the Income and Corporation Taxes Act 1988.^[2]

    3.—(1)  The European Investment Bank being a relevant international organisation is designated as a bank for the purposes of any provision to which paragraph (2) of this article applies.

    (2)  This paragraph applies to any provision in relation to which it is provided that the word "bank" in that provision has the meaning given by section 840A of the Taxes Act.

    4.    Paragraph (a) of section 349(3) of the Taxes Act^[3], being a provision to which article 3(2) applies, shall apply to the European Investment Bank as if the words from "if" to the end were omitted.

Simon Burns

Liam Fox

Two of the Lords Commissioners of Her Majesty's Treasury

29th April 1996

This Order designates the European Investment Bank as a bank for the purposes of the definition of "bank" in section 840A of the Income and Corporation Taxes Act 1988 (inserted by paragraph 1(1) of Schedule 37 to the Finance Act 1996 ("Schedule 37")).

The Order also modifies the application of section 349(3)(a) of the 1988 Act (as amended by paragraph 3 of Schedule 37) in relation to the European Investment Bank so that interest payable on an advance from the Bank may be paid without deduction of tax even though the Bank is not within the charge to corporation tax as respects the interest at the time the interest is paid.

[1] 1988 c. 1; section 840A was inserted by paragraph 1(1), and subsection (3AB) of section 349 by paragraph 4, of Schedule 37 to the Finance Act 1996 (c. 8). back

[2] 1988 c. 1. back

[3] Section 349(3)(a) was amended by paragraph 3(a) of Schedule 37 to the Finance Act 1996. back