text:
Preliminary
Citation, commencement and effect
1
1
These Regulations may be cited as the Authorised Investment Funds (Tax) (Amendment) Regulations 2010 and come into force on 6th March 2010.
2
These Regulations have effect from 6th March 2010.
This is subject to paragraph (3) and regulations 24 to 26.
3
Regulations 10 (amendment of regulation 20 of the principal Regulations) and 11 (amendment of regulation 21 of the principal Regulations) have effect for accounting periods beginning on or after 6 March 2010.
Amendment of the principal Regulations
Amendment of the Authorised Investment Funds (Tax) Regulations 2006
2
The Authorised Investment Funds (Tax) Regulations 2006 (“the principal Regulations”) are amended as follows.
Amendment of regulation 2
3
In regulation 2 (structure of the Regulations) after “Part 6 contains further provisions relating to AIFs;” insert —
Part 6A contains provisions relating to Funds Investing in Non-Reporting Offshore Funds ( FINROFs );
.
Amendment of regulation 8
4
In regulation 8 (general interpretation) , in the appropriate alphabetical place in each case, insert —
“prospectus” includes a proposed prospectus, supplements to a prospectus and supplements to a proposed prospectus;
,
“Statement of Recommended Practice” means, in relation to any accounting period for which it is required or permitted to be used, the Statement of Recommended Practice relating to authorised investment funds issued by the Investment Management Association in November 2008 ;
.
Amendment of regulation 12
5
Paragraph (3) of regulation 12 (accounts prepared in accordance with UK generally accepted accounting practice) is omitted.
Amendment of regulation 14B
6
For sub-paragraph (b) of paragraph (3) of regulation 14B (tax treatment of qualified investor schemes) substitute —
b
the total amount available for income allocation to participants must only be allocated in accordance with paragraph (1)(b) of regulation 17 (allocation of income).
.
Amendment of regulation 15
7
1
Regulation 15 (interpretation) is amended as follows.
2
For paragraph (1) substitute —
1
In these Regulations —
a
“income allocation” means the distribution of an amount to participants; and
b
“distribution” includes the crediting of an amount to the capital part of the scheme property on behalf of a participant in respect of the participant’s accumulation units.
.
3
In paragraph (2), for “distribution to participants” substitute “income allocation to participants”.
4
Omit paragraph (3).
Amendment of regulation 17
8
1
Regulation 17 (contents of distribution accounts) is amended as follows.
2
For the heading to the regulation, substitute “allocation of income” and omit the cross-heading immediately preceding the regulation.
3
For paragraph (1) substitute —
1
The total amount available for income allocation must be allocated in one of the following ways —
a
for distribution as yearly interest (see regulations 18 to 21); or
b
for distribution as dividends (see regulation 22).
.
4
For paragraph (2) substitute —
2
Amounts chargeable to corporation tax in accordance with Part 4 of CTA 2009 must not be included in any amount of income allocated for distribution as yearly interest.
.
Amendment of regulation 18
9
In paragraph (1) of regulation 18 (interest distributions: general) for “shown in the distribution accounts as available for distribution to participants is shown as available” substitute “available for income allocation is allocated”.
Amendment of regulation 20
10
In regulation 20 (meaning of “qualifying investment”), after “Qualifying units in another authorised investment fund.” insert —
Category 4A
Qualifying units in an offshore fund.
.
Amendment of regulation 21
11
After paragraph (5) in regulation 21 (meaning of “qualifying investments”: further provisions) insert —
5A
For the purpose of category 4A, units in an offshore fund are qualifying units at any time in the relevant period if, and only if, the offshore fund would itself (on the relevant assumption) satisfy the qualifying investments test throughout that period.
5B
For the purposes of paragraph (5A), the relevant assumption is that the only investments of the offshore fund which are to be regarded as qualifying investments are those falling within categories 1 to 3 and 5 to 8.
5C
In paragraph (5B), references to investments of an offshore fund —
a
in the case of an offshore fund which is a company, are references to investments which are the investments of the company, but do not include cash awaiting investment, and
b
in the case of any other offshore fund, are references to investments subject to the trust or other arrangements constituting the investments of the other offshore fund, but do not include cash awaiting investment.
.
Amendment of regulation 22
12
In paragraph (1) of regulation 22 (dividend distributions: general) for “shown in the distribution accounts as available for distribution to participants is shown as available” substitute “available for income allocation is allocated”.
Amendment of regulation 23
13
1
Regulation 23 (provisions applying if amounts available for distribution are de minimis) is amended as follows.
2
For sub-paragraphs (a) and (b) of paragraph (3) substitute —
a
has calculated that the total income available for income allocations is a de minimis amount, and
b
chooses to waive the allocation of that de minimis amount.
.
3
In paragraph (7) for “shown in the fund’s distribution accounts as available for distribution” substitute “available for income allocation”.
Amendment of regulation 48
14
In paragraph (2A) of regulation 48 (general) for “section 95 of ICTA or section 219(4) of FA 1994 ” substitute “Chapter 2 of Part 3 of CTA 2009 ”.
Substitution of regulation 50
15
For regulation 50 (references to gross income) substitute —
50
For the purposes of this Chapter, references to gross income are references to the net revenue before taxation determined in accordance with the Statement of Recommended Practice.
.
Amendment of regulation 69Z14
16
1
Regulation 69Z14 (attribution of distributions) is amended as follows.
2
For the heading substitute “allocation of income”.
3
For the words “the total amount shown” to “shall be attributed” substitute “the total amount available for income allocation in an open-ended investment company to which this Part applies shall be attributed”.
Amendment of regulation 69Z25
17
In sub-paragraph (b) of paragraph (3) of regulation 69Z25 (documents to be included with company tax return) for “the total income shown in the distribution accounts” substitute “the total amount available for income allocation”.
Amendment of regulation 69Z59
18
1
Regulation 69Z59 (allocation of distributions) is amended as follows.
2
For the heading substitute “allocation of income”.
3
For paragraph (1) substitute —
1
The total amount available for income allocation in a Tax Elected Fund shall be attributed as follows.
.
Amendment of regulation 69Z62
19
For sub-paragraph (b) of paragraph (2) of regulation 69Z62 (participants chargeable to corporation tax) substitute —
b
in regulation 50 (references to gross income) for “the net revenue before taxation shall be determined in accordance with the Statement of Recommended Practice” there shall be substituted “the amount attributed to TEF distributions (dividends) in accordance with regulation 69Z59 (allocation of income);”.
Amendment of regulation 77
20
For paragraph (1) of regulation 77 (non-discrimination in respect of different classes of shares) substitute —
1
This regulation applies if there is an amount available for income allocation.
.
Insertion of Part 6A
21
After Part 6 of the principal Regulations insert the following Part —
PART 6A Funds Investing in Non-Reporting Offshore Funds
CHAPTER 1
Preliminary Provisions
FINROFs
85A
1
This Part applies to —
a
an authorised investment fund which meets the investment condition in regulation 85D (the investment condition);
b
an authorised investment fund in respect of which an election has been made in accordance with regulation 85F (elective FINROFs);
c
a participant in a fund mentioned in paragraph (a) or (b); and
d
a participant in a fund which has left the FINROF regime, where the participant has not made a valid election under regulation 85Z11 (participant’s power to elect for deemed disposal).
2
A fund to which this Part applies shall be known as a Fund Investing in Non-Reporting Offshore Funds (“FINROF”).
Structure of this Part
85B
The structure of this Part is as follows —
This Chapter contains preliminary provisions;
Chapter 2 deals with entry into the Funds Investing in Non-Reporting Offshore Funds regime (“FINROF regime”);
Chapter 3 deals with the tax treatment of FINROFs and of participants in FINROFs;
Chapter 4 deals with exceptions, etc from the charge to tax;
Chapter 5 deals with disposal of units in FINROFs;
Chapter 6 deals with income gains and computation of income gains;
Chapter 7 deals with deduction of income gains in computing chargeable gains;
Chapter 8 deals with leaving the FINROF regime.
Interpretation
85C
In this Part —
“gross asset value” means the value of the investments comprising the scheme property of the authorised investment fund before the deduction of specified liabilities, but does not include cash awaiting investment;
“non-reporting fund” has the same meaning as in the Offshore Funds Regulations ;
“offshore fund” means a fund within the meaning of section 40A(2) of the Finance Act 2008 ;
“Offshore Funds Regulations” means the Offshore Funds (Tax) Regulations 2009 ;
“reporting fund” has the same meaning as in regulation 50 of the Offshore Funds Regulations.
The investment condition
85D
1
The investment condition is met in relation to an authorised investment fund if the total amount invested in non-reporting funds or FINROFs is more than 20% of the gross asset value of the authorised investment fund.
2
This regulation is subject to regulation 85E.
Interests in funds treated as not being interests in non-reporting funds
85E
1
For the purposes of regulation 85D(1) the interests specified in paragraph (2) shall not be regarded as interests in non-reporting funds.
2
The interests specified are —
a
any interest in an offshore fund in respect of which, by virtue of regulation 29 of the Offshore Funds Regulations (interests in transparent funds), no liability to tax would arise under regulation 17 of those Regulations (the charge to tax) on a disposal of that interest, and
b
any interest in an offshore fund that is treated as creditor relationship rights under section 490 of CTA 2009 .
Elective FINROFs
85F
1
An authorised investment fund which does not meet the investment condition may elect to be treated as a FINROF (an “elective FINROF”).
This is subject to paragraph (4).
2
An election under paragraph (1) must —
a
be made in writing to HM Revenue and Customs by the manager; and
b
specify the date from which the fund is to be so treated.
3
But the manager must not specify a date which is more than 3 months before the date of the election mentioned in paragraph (2).
4
Before making an election, the fund must have obtained any necessary regulatory approval in respect of the instrument constituting the fund and the prospectus.
CHAPTER 2
Entry into Funds Investing in Non-Reporting Offshore Fund (“FINROF”) regime
Entry into FINROF regime: the basic rule
85G
This Part applies to an authorised investment fund from —
a
the date on which the fund first met the condition in regulation 85D (the investment condition); or
b
the date specified in the notice given under regulation 85F (elective FINROFs),
whichever is the earlier.
The requirement to notify where regulation 85D is satisfied
85H
1
The legal owner of an authorised investment fund which is a FINROF by virtue of regulation 85D must notify HM Revenue and Customs of the date on which the fund first met the investment condition within a period of 3 months beginning with the date on which the fund first met that condition.
2
For the purposes of paragraph (1), no account shall be taken of the period before the date of any previous valid election under regulation 85Z9 (leaving the FINROF regime).
3
An authorised investment fund that fails to comply with this regulation is liable to a penalty not exceeding £3,000 determined in accordance with section 100 of TMA 1970 .
4
Sections 100A, 100B, 102, 103(4) and 118(2) of TMA 1970 apply to a penalty determined in accordance with paragraph (3).
5
This regulation is subject to regulation 85J (inadvertent fulfilment of investment condition).
The requirement to notify participants when a fund enters the FINROF regime
85I
1
The legal owner must notify the participants in a fund that the fund has entered the FINROF regime and inform them that any gains made on the disposal of units in the fund shall be treated as an income gain rather than a capital gain, in accordance with Chapter 3 of this Part.
2
The notification under paragraph (1) must be given within a period of 3 months beginning with the date on which this Part first applied to the fund.
3
For the purposes of paragraph (2), no account shall be taken of the period before the date of any previous valid election under regulation 85Z9 (leaving the FINROF regime).
4
An authorised investment fund that fails to comply with this regulation is liable to a penalty not exceeding £3,000 determined in accordance with section 100 of TMA 1970.
5
Sections 100A, 100B, 102, 103(4) and 118(2) of TMA 1970 apply to a penalty determined in accordance with paragraph (4).
6
This regulation is subject to regulation 85J.
Inadvertent fulfilment of investment condition
85J
1
If this regulation applies a fund shall be treated as if it had never met the investment condition and consequently none of the provisions of this Part (including the penalty provisions in regulations 85H and 85I) apply to the fund.
2
This regulation applies where —
a
an authorised investment fund meets the investment condition but as soon as possible after becoming aware that the condition is met, the legal owner gives notice in writing to HM Revenue and Customs of the steps that the fund has taken, or proposes to take, to ensure that the fund no longer meets that condition,
b
the fund ceases the meet the investment condition before the end of a 4 month period beginning with the date that the fund first met the condition and the legal owner gives notice in writing to HM Revenue and Customs that the fund no longer meets the condition, and
c
HM Revenue and Customs issue a notice in writing that this regulation applies.
3
HM Revenue and Customs must, within a period of 28 days beginning with the date on which they receive notice from the legal owner that the fund no longer meets the investment condition, issue a notice in writing to the legal owner that —
a
this regulation applies, or
b
this regulation does not apply as HM Revenue and Customs are not satisfied that the conditions in sub-paragraphs (a) and (b) of paragraph (2) are met for the reasons specified in the notice.
Appeal against refusal to provide written notice
85K
1
A legal owner to whom a notice is issued under paragraph (3)(b) of regulation 85J (a “refusal notice”) may appeal.
2
The notice of appeal must be given to HM Revenue and Customs within a period of 28 days beginning with the day on which HM Revenue and Customs issued the refusal notice.
3
On an appeal that is notified to the tribunal, the tribunal shall determine whether it was just and reasonable for HM Revenue and Customs to issue the refusal notice.
4
If the tribunal determine that it was just and reasonable for HM Revenue and Customs to issue the refusal notice, this Part applies to the fund from the date on which it first met the investment condition and the legal owner must notify the participants in the fund in accordance with regulation 85I.
5
If the tribunal determine that it was not just and reasonable for HM Revenue and Customs to issue the refusal notice, paragraph (1) of regulation 85J shall apply.
Disposal of an interest in an authorised investment fund prior to its becoming a FINROF
85L
1
This regulation applies if an authorised investment fund either meets the investment condition or becomes an elective FINROF in accordance with regulation 85F.
2
A participant in the fund may make an election to be treated for the purposes of TCGA 1992 —
a
as disposing of all the units that they hold in the authorised investment fund on the deemed disposal date, and
b
as immediately upon that disposal, acquiring units in the FINROF.
3
The disposal referred to in paragraph (2)(a) is treated as made for a consideration equal to the market value of the participant’s holding of units in the fund on the deemed disposal date.
4
The acquisition referred to in paragraph (2)(b) is treated as made for a consideration equal to the consideration for the disposal referred to in paragraph (2)(a).
5
If the participant is chargeable to income tax, the election mentioned in paragraph (2) must be made by being included in a return made for the tax year which includes the deemed disposal date.
6
If the participant is chargeable to corporation tax, the election mentioned in paragraph (2) must be made by being included in the participant’s company tax return for the accounting period which includes the deemed disposal date.
7
In this regulation —
a
“company tax return” has the same meaning as in Schedule 18 to the Finance Act 1998 , and
b
“deemed disposal date” means the date on which this Part begins to apply to the authorised investment fund.
CHAPTER 3
Tax treatment of FINROFs and of participants in FINROFs
The charge to tax
The charge to tax: general provisions
85M
1
There is a charge to tax if —
a
a person disposes of an asset,
b
either condition A or condition B is met, and
c
as a result of the disposal, an income gain (see regulation 85Z) arises to the person making the disposal.
2
Condition A is that the asset consists of units in a FINROF at the time of the disposal.
3
Condition B is that —
a
the asset consists of units in an authorised investment fund that had been a FINROF for some of the material period; and
b
no valid election under regulation 85Z11 (participant’s power to elect for deemed disposal) was made in relation to the asset.
4
In paragraph (3) “the material period” means a period beginning with the date of acquisition of the asset and ending with the date of the disposal.
The charge to tax: further provisions
85N
1
The income gain arising is treated for all purposes of the Tax Acts as income which arises at the time of the disposal to the person making the disposal (or treated as making the disposal).
2
The tax is charged on the person making the disposal (or treated as making the disposal).
3
In the case of a person chargeable to income tax, tax is charged under Chapter 8 of Part 5 of ITTOIA 2005 (miscellaneous income: income not otherwise charged) for the year of assessment in which the disposal is made, but sections 688(1) (income charged) and 689 (person liable) of ITTOIA 2005 do not apply.
4
In the case of a person chargeable to corporation tax, tax is charged under Chapter 8 of Part 10 of CTA 2009 (miscellaneous income: income not otherwise charged) for the accounting period in which the disposal is made.
Application of certain provisions of TCGA 1992
85O
The following enactments have effect in relation to income tax or corporation tax in respect of income gains as they have effect in relation to capital gains tax or corporation tax in respect of chargeable gains —
a
section 2(1) of TCGA 1992 (persons chargeable to capital gains tax);
b
section 10 of TCGA 1992 (non-resident with a United Kingdom branch or agency);
c
section 10B of TCGA 1992 (non-resident company with United Kingdom permanent establishment).
Application of section 10A of TCGA 1992
85P
1
Section 10A of TCGA 1992 (temporary non-residence) applies for the purposes of this Part with the following modifications.
2
The section applies as if, in subsection (2) —
a
the reference to section 86A were omitted;
b
for the reference to capital gains tax there were substituted a reference to income tax;
c
in paragraph (a), for the reference to chargeable gains and losses there were substituted a reference to income gains;
d
paragraphs (b) and (c) were omitted; and
e
for the references to gains or losses there were substituted a reference to income gains.
3
The section applies as if, in subsection (3) —
a
for the reference to gains and losses there were substituted a reference to income gains; and
b
for the reference to any gain or loss there were substituted a reference to any income gains.
4
The section applies as if subsection (4) were omitted.
5
The section applies as if, in subsection (5) —
a
for the reference to gains and losses there were substituted a reference to income gains;
b
for the reference to any chargeable gain or allowable loss there were substituted a reference to any income gain; and
c
for the reference to section 10 or 16(3) there were substituted a reference to regulation 85O(b) (application of certain provisions of TCGA ).
6
The section applies as if subsection (6) were omitted.
7
The section applies as if, in subsection (7), for the reference to capital gains tax there were substituted a reference to income tax.
8
The section applies as if, in subsection (9C) —
a
for the reference to capital gains tax there were substituted a reference to income tax; and
b
for the reference to chargeable gains there were substituted a reference to income gains.
CHAPTER 4
Exceptions, etc from the charge to tax
Exceptions from the charge to tax
85Q
1
No liability to tax arises under regulation 85M (the charge to tax: general provisions) if condition A or B is met.
2
Condition A is that the participant is required to treat units in the FINROF as a loan relationship to which the provisions of Chapter 3 of Part 6 of CTA 2009 apply.
3
Condition B is that the participant is required to treat units in the FINROF as a derivative contract to which the provisions of Part 7 of CTA 2009 apply.
Trading stock etc.
85R
1
No liability to tax arises under regulation 85M if condition A or B is met.
2
Condition A is that the units in the fund are held as trading stock.
3
Condition B is that the disposal of the units is taken into account in computing the profits of a trade.
Long-term insurance funds of insurance companies
85S
1
No liability to tax arises under regulation 85M in respect of disposals of units of an insurance company’s long-term insurance fund.
2
In paragraph (1) “insurance company” and “long-term insurance fund” have the same meaning as in section 431(2) of ICTA .
Charitable companies and charitable trusts
85T
1
A charitable company shall be exempt from corporation tax in respect of an income gain if the gain is applicable and is applied for charitable purposes.
2
A charitable trust shall be exempt from income tax in respect of an income gain if the gain is applicable and is applied for charitable purposes.
3
Paragraphs (4) and (5) apply if —
a
property held on charitable trusts ceases to be subject to charitable trusts, and
b
that property represents directly or indirectly an income gain.
4
The trustees are treated as if they had disposed of and immediately reacquired that property for a consideration equal to its market value.
5
An income gain accruing on the disposal arising under paragraph (4) is treated as an income gain not accruing to a charity.
6
In this regulation “charity” and “charitable company” have the same meaning as in section 506 of ICTA .
CHAPTER 5
Disposal of units in FINROFs
Application of this Chapter
85U
This Chapter applies if a participant disposes of an asset and at the time of the disposal —
a
the asset consists of units in a FINROF, or
b
the asset consists of units in an authorised investment fund that is not a FINROF and the requirements specified in paragraph (3) of regulation 85M are met.
Disposal of an asset: the basic rule
85V
1
There is a disposal of an asset for the purposes of this Part if there would be a disposal of an asset for the purposes of TCGA 1992.
2
Paragraph (1) is subject to the following regulations in this Chapter.
Provisions applicable on death
85W
1
Notwithstanding anything in paragraph (b) of subsection (1) of section 62 of TCGA 1992 (general provisions applicable on death: no deemed disposal by the deceased), where a person dies and the assets of which the deceased was competent to dispose at the time of death include units in a FINROF, then, for the purposes of these Regulations —
a
immediately before the acquisition referred to in paragraph (a) of that subsection, those units shall be deemed to be disposed of by the deceased for such a consideration as is mentioned in that subsection; but
b
nothing in this regulation affects the determination, in accordance with regulation 85U, of the question whether that deemed disposal is one to which this Chapter applies.
2
Subject to paragraph (1), section 62 of TCGA 1992 applies for the purposes of these Regulations as it applies for the purposes of that Act, and the reference in that paragraph to the assets of which a deceased person was competent to dispose are to be construed in accordance with subsection (10) of that section.
Application of section 135 of TCGA 1992
85X
1
Section 135 of TCGA 1992 (exchange of securities for those in another company treated as not involving a disposal) does not apply for the purposes of this Part to the extent that —
a
the interest in the entity that is company A for the purposes of that section that is exchanged is units in a FINROF, and
b
the interest in the entity that is company B for those purposes that is exchanged is not units in such a fund.
2
In a case where section 135 of TCGA 1992 would apply apart from paragraph (1), the exchange in question shall for the purposes of this Part constitute a disposal of units in the FINROF for a consideration equal to their market value at the time of the exchange.
Application of section 136 of TCGA 1992
85Y
1
Section 136 of TCGA 1992 (scheme of reconstruction involving issue of securities treated as exchange not involving disposal) does not apply for the purposes of this Part to the extent that —
a
the interest in the entity that is company A for the purposes of that section that is exchanged is units in a FINROF, and
b
the interest in the entity that is company B for those purposes that is exchanged is not units in such a fund.
2
In a case where section 136 of TCGA 1992 would apply apart from paragraph (1), the deemed exchange in question shall for the purposes of this Part constitute a disposal of units in the FINROF for a consideration equal to their market value at the time of the deemed exchange.
CHAPTER 6
Income gains and computation of income gains
General provisions
85Z
1
An income gain arises to a person on the disposal of an asset if a basic gain arises on the disposal.
2
The disposal gives rise to an income gain of an amount equal to the basic gain on the disposal.
3
The following provisions of this Chapter explain how the basic gain is computed.
The basic gain and its computation
85Z1
1
In the case of a participant chargeable to income tax, the basic gain is a gain of the amount which would be the gain on that disposal for the purposes of TCGA 1992 if the gain were computed without regard to any charge to income tax arising under this Part.
2
In the case of a participant chargeable to corporation tax, the basic gain is a gain of the amount which would be the gain on that disposal for the purposes of TCGA 1992 if the gain were computed —
a
without regard to any charge to corporation tax arising under this Part, and
b
without regard to any indexation allowance on the disposal under TCGA 1992.
3
The computation of the basic gain is subject to —
a
regulation 85W (provisions applicable on death);
b
regulation 85X (application of section 135 of TCGA 1992);
c
regulation 85Y (application of section 136 of TCGA 1992);
d
regulation 85Z2 (earlier disposal to which the no gain/no loss basis applies);
e
regulation 85Z3 (modifications of TCGA 1992); and
f
regulation 85Z4 (losses).
Earlier disposal to which the no gain/no loss basis applies
85Z2
1
This regulation applies if —
a
a participant is chargeable to corporation tax, and
b
the amount of any chargeable gain or allowable loss which would arise on the disposal would fall to be computed in a way which, in whole or in part, would take account of the indexation allowance on an earlier disposal to which section 56(2) of TCGA 1992 (disposals on a no gain/no loss basis) applies.
2
The basic gain on the disposal is computed as if —
a
no indexation allowance had been available on any such earlier disposal, and
b
subject to that, neither a gain nor a loss had arisen to the person making such an earlier disposal.
Modifications of TCGA 1992
85Z3
1
If the disposal forms part of a transfer to which section 162 of TCGA 1992 (roll-over relief on transfer of business) applies, the basic gain arising on the disposal is computed without regard to any deduction which falls to be made under that section in computing a chargeable gain.
2
If the disposal is made otherwise than under a bargain at arm’s length and a claim for relief is made in respect of that disposal under section 165 or 260 of TCGA 1992 (relief for gifts), the claim does not affect the computation of the basic gain arising on the disposal.
Losses
85Z4
1
If the effect of any computation under regulations 85Z1 to 85Z3 would be to produce a loss, the basic gain on the disposal is nil.
2
Paragraph (1) applies notwithstanding section 16 of TCGA 1992 (losses determined in like manner as gains).
3
Accordingly, for the purposes of these Regulations, no loss is to be treated as arising on the disposal.
CHAPTER 7
Deduction of income gains in computing chargeable gains
Scope of this Chapter
85Z5
1
This Chapter applies if —
a
a disposal gives rise to an income gain, and
b
that disposal also constitutes the disposal of the units concerned for the purposes of TCGA 1992.
2
In this Chapter, the disposal specified in paragraph (1)(b) is called the “TCGA disposal”.
Treatment of the TCGA disposal: general rules
85Z6
1
This regulation applies for the purposes of the computation of the chargeable gain arising on the TCGA disposal.
2
The provisions of this regulation have effect in relation to the TCGA disposal in substitution for section 37(1) of TCGA 1992 (deduction of consideration chargeable to tax on income).
3
In the computation of the gain arising on the TCGA disposal, a sum equal to the income gain shall be deducted from the sum which would otherwise constitute the amount or value of the consideration for the disposal.
4
Paragraph (3) is subject to the following provisions of this Chapter.
5
Paragraph (6) applies if the TCGA disposal is of such a nature that, by virtue of section 42 of TCGA (part disposal), an apportionment falls to be made of certain expenditure.
6
No deduction is to be made by virtue of paragraph (3) in determining the amount or value of the consideration for the purpose of the fraction in section 42(2) of TCGA 1992.
Modification of section 162 TCGA 1992
85Z7
1
This regulation applies if the TCGA disposal forms part of a transfer to which section 162 of TCGA applies (roll-over relief on transfer of business in exchange wholly or partly for shares).
2
For the purposes of subsection (4) of section 162 of TCGA 1992 (determination of the amount of the deduction from the gain on the old assets) “B” in the fraction in that subsection (the value of the whole of the consideration received by the transferor in exchange for the business) is to be taken to be what it would be if the value of the consideration other than shares so received by the transferor were reduced by an amount equal to the income gain.
Application of section 128 of TCGA 1992
85Z8
1
This regulation applies if there is a disposal to which this Part applies by virtue of —
a
regulation 85X (application of section 135 of TCGA 1992), and
b
regulation 85Y (application of section 136 of TCGA 1992).
2
TCGA 1992 has effect as if an amount equal to the income gain to which that disposal gives rise were given (by the person making the exchange) as consideration for the new holding (within the meaning of section 128 of that Act (consideration given or received for new holding on a reorganisation)).
CHAPTER 8
Leaving the FINROF regime
Leaving the FINROF regime
85Z9
1
The provisions of this Part apply to a FINROF until the date specified in an election under this regulation made by the manager.
2
An election under this regulation must be made to HM Revenue and Customs in writing and must comply with the following provisions of this regulation.
3
An election may only be made in respect of a FINROF if —
a
the FINROF does not meet the investment condition —
i
at the date specified in the election, and
ii
at the date on which the election is made,
b
the FINROF has been subject to this Part for at least one complete accounting period, and
c
the fund has obtained any necessary regulatory approval of the instrument constituting the fund and the prospectus.
4
An election under this regulation must specify the date from which this Part ceases to apply to the FINROF.
5
But the date specified in paragraph (4) must not be earlier than the date which is 3 months before the date on which the election is made.
Requirement to notify participants when a fund leaves the FINROF regime
85Z10
1
If an election is made under regulation 85Z9, the legal owner must notify the participants in a fund that this Part no longer applies to the fund but continues to apply to a participant unless an election is made in accordance with regulation 85Z11.
2
The notification under paragraph (1) must be made within a period of 3 months beginning with the date mentioned in regulation 85Z9(5).
3
An authorised investment fund which fails to comply with this regulation is liable to a penalty not exceeding £3,000 determined in accordance with section 100 of TMA 1970 .
4
Sections 100A, 100B, 102, 103(4) and 118(2) of TMA 1970 apply to a penalty determined in accordance with paragraph (3) .
Participant’s power to elect for deemed disposal
85Z11
1
Notwithstanding an election made under regulation 85Z9, this Part continues to apply to a participant in a FINROF unless the participant makes an election in accordance with paragraph (2).
2
A participant in the fund may make an election to be treated —
a
as disposing of the units owned by the participant in the FINROF at their market value on the deemed disposal date, and
b
as acquiring units in the authorised investment fund on the deemed disposal date.
3
The income gain arising on the deemed disposal referred to in paragraph (2)(a) shall be determined in accordance with Chapter 6 of this Part.
4
The acquisition referred to in paragraph (2)(b) is treated as made for a consideration equal to the consideration for the disposal referred to in paragraph (2)(a).
5
An election may not be made under paragraph (2) unless the income gain arising on the disposal referred to in paragraph (2)(a) (determined in accordance with Chapter 6 of this Part) is greater than zero.
6
If the participant is chargeable to income tax, the election mentioned in paragraph (2) must be made by being included in a return made for the tax year which includes the deemed disposal date.
7
If the participant is chargeable to corporation tax, the election mentioned in paragraph (2) must be made by being included in the participant’s company tax return for the accounting period which includes the deemed disposal date.
8
In this regulation —
“company tax return” has the same meaning as in Schedule 18 to the Finance Act 1998 ; and
the “deemed disposal date” means the date on which, in accordance with regulation 85Z9, the fund ceases to be a FINROF..
.
Amendment of the Schedule
22
1
The Schedule (abbreviations and defined expressions) is amended as follows.
2
In Part 2 (index of expressions defined or otherwise explained in these Regulations) —
a
omit the entries relating to “Prospectus (in Part 4A)”, “distribution” and “distribution accounts” and
b
insert, at the appropriate alphabetical place in each case —
Distribution Regulation 15(1)(b) Elective FINROF (in Part 6A) Regulation 85F FINROF (in Part 6A) Regulation 85A Gross asset value (in Part 6A) Regulation 85C Income allocation Regulation 15(1)(a) Investment condition (in Part 6A) Regulation 85D Non-reporting fund (in Part 6A) Regulation 85C Offshore fund (in Part 6A) Regulation 85C Offshore Funds Regulations (in Part 6A) Regulation 85C Prospectus Regulation 8 Reporting fund (in Part 6A) Regulation 85C Statement of Recommended Practice Regulation 8
Consequential amendments
23
1
In regulations 7(4) and (8) and 77(4)(a) omit “(including any supplements to that prospectus)” in each place in which those words occur.
2
In regulations 9A(9)(b) and 69E(2) omit “(including any supplements to the prospectus)”.
3
In regulation 69E omit paragraph (4).
4
In regulations 69Q(5)(b)(ii) and 69Z51(5)(b)(ii) omit —
a
“proposed” in the first place in which that word occurs in each regulation; and
b
“(including any supplements to the proposed prospectus)”.
Transitional provisions
Transitional provisions relating to distribution dates for earlier accounting periods
24
1
Regulations 6 to 9, 12, 13 and 15 to 20 of these Regulations do not apply in relation to a distribution if conditions A to C are met.
2
Condition A is that the distribution date in relation to a distribution relates to an accounting period ending on or before 5th March 2010.
3
Condition B is that the distribution date in relation to a distribution falls on or after 6th March 2010 but on or before 5th July 2010.
4
Condition C is that that authorised investment fund has elected, in accordance with the transitional provisions in the Collective Investment Schemes Sourcebook (Accounting Amendments) Instrument 2010 made by the Financial Services Authority on 28th January 2010, to comply with the rules in the Authority’s Collective Investment Schemes Sourcebook as they were in force on 5th March 2010.
5
For the purposes of this regulation —
a
“distribution” has the meaning given in regulation 15(1)(b) of the principal Regulations (interpretation); and
b
“distribution date” has the meaning given in regulation 15(4) of the principal Regulations.
Transitional provisions relating to entry into the FINROF regime: the first case
25
1
This regulation applies to an authorised investment fund which, on 6th March 2010, is investing more than 20% of its gross asset value in non-reporting funds.
2
Part 6A of the principal Regulations (inserted by these Regulations) applies to such an authorised investment fund from 6th July 2010.
3
But if the authorised investment fund satisfies the requirements of paragraph (1) on 6th July 2010 that date shall, for the purposes of regulation 85G(a) (entry into FINROF regime: the basic rule) of the principal Regulations (inserted by these Regulations), be treated as the date from which the authorised investment fund first met the investment condition in regulation 85D of the principal Regulations (inserted by these Regulations)
4
In this regulation “gross asset value” and “non-reporting fund” have the meanings given in regulation 85C of the principal Regulations (inserted by these Regulations).
Transitional provisions relating to entry into the FINROF regime: the second case
26
1
This regulation applies to an authorised investment fund which holds investments in an offshore fund that is reasonably expected by the manager of the authorised investment fund to gain distributing fund status under the transitional rules in paragraph 3 of Schedule 1 to the Offshore Fund (Tax) Regulations 2009 .
2
Investments in the offshore fund mentioned in paragraph (1) shall be treated as investments in a reporting fund for the purposes of Part 6A of the principal Regulations (inserted by these Regulations).
3
In this regulation “offshore fund” and “reporting fund” have the meanings given in regulation 85C of the principal Regulations (inserted by these Regulations).
Amendment of the Offshore Funds (Tax) Regulations 2009
Consequential amendment of the Offshore Funds (Tax) Regulations 2009
27
After paragraph (5) of regulation 18 of the Offshore Funds (Tax) Regulations 2009 insert —
6
Nothing in regulation 17 or 18 of these Regulations applies to a fund to which Part 6A of the Authorised Investment Funds (Tax) Regulations 2006 applies.
.
Bob Blizzard
Dave Watts
Two of the Lords Commissioners of Her Majesty’s Treasury
10th February 2010


type: legislation

jurisdiction: UK

text:
Citation and commencement
1
1
These Regulations may be cited as the Tax Treatment of Financing Costs and Income (Available Amount) Regulations 2010 and come into force on 1st January 2011.
2
These Regulations have effect in relation to periods of account of the worldwide group beginning on or after 1st January 2011.
Interpretation
2
For the purposes of these Regulations —
“ CTA 2009 ” means the Corporation Tax Act 2009 ;
“alternative finance arrangements” has the meaning given in section 501(2) of CTA 2009 (introduction to chapter: definitions etc );
“alternative finance return” has the meaning given in sections 511 to 513 of CTA 2009 (purchase and resale arrangements, diminishing shared ownership arrangements and other arrangements);
“loan relationship” has the meaning given in section 302 of CTA 2009 (definitions of loan relationship, creditor relationship and debtor relationship);
“manufactured interest” has the meaning given in section 539(5) of CTA 2009 (introduction to chapter: definitions etc);
“relevant non-lending relationship” has the meaning given in sections 479 (relevant non-lending relationships not involving discounts) and 480 (relevant non-lending relationships involving discounts) of CTA 2009.
Specified matters
3
The following matters are specified for the purposes of section 332(1) of the Taxation (International and Other Provisions) Act 2010 to the extent that they are not included in the available amount by virtue of any of paragraphs (a) to (f) of that subsection —
a
interest payable in respect of a relevant non-lending relationship;
b
alternative finance return under alternative finance arrangements;
c
manufactured interest;
d
a finance charge treated in accordance with section 551(4) of CTA 2009 (relief for borrower for finance charges in respect of the advance) as interest payable under a debt;
e
a finance charge treated in accordance with any of the following provisions of the Corporation Tax Act 2010 as interest payable under a transaction or a loan relationship —
i
section 761(3) (deemed loan relationship if borrower is a company),
ii
section 762(3) (deemed loan relationship if borrower is a partnership with a corporate member),
iii
section 766(3) (deemed loan relationship), or
iv
section 769(3) (deemed loan relationship).
Steve Lamey
Dave Hartnett
Two of the Commissioners for Her Majesty’s Revenue and Customs
8th December 2010


text:
Citation and commencement
1
These Regulations may be cited as the National Health Service (Pharmaceutical Services and Local Pharmaceutical Services) (Amendment) Regulations 2010 and come into force on 24th May 2010.
Amendment of the National Health Service (Pharmaceutical Services) Regulations 2005
2
The National Health Service (Pharmaceutical Services) Regulations 2005 are amended in accordance with regulations 3 to 10.
Amendment of regulation 2
3
In regulation 2 (interpretation), in paragraph (1) —
a
in the definition of “ FHSAA ”, after “the Act” insert “and abolished on 18th January 2010 by article 3 of the Transfer of Tribunal Functions Order 2010 (abolition of tribunals)”;
b
in sub-paragraph (c) of the definition of “national disqualification”, for “is treated” substitute “was, before 18th January 2010, treated”;
c
for the definition of “pharmaceutical services” substitute the following definition —
“pharmaceutical services” means —
except in the context of Part 1A and Schedule 3A, pharmaceutical services other than directed services;
in the context of Part 1A and Schedule 3A, the pharmaceutical services to which a pharmaceutical needs assessment must relate by virtue of regulation 3A(2);
; and
d
insert the following definitions at the appropriate places —
“partner PCT ” has the meaning given in section 116(9) of the Local Government and Public Involvement in Health Act 2007 (health and social care: joint strategic needs assessments);
; and
“pharmaceutical needs assessment” is to be construed in accordance with regulation 3A(1);
.
New Part 1A of the National Health Service (Pharmaceutical Services) Regulations 2005
4
After Part 1, insert the following Part —
PART 1A Pharmaceutical Needs Assessments
Pharmaceutical needs assessments
3A
1
The statement of the needs for pharmaceutical services which each Primary Care Trust is required to publish by virtue of section 128A of the 2006 Act, whether it is the statement of its first assessment or of any revised assessment, is referred to in these Regulations as a “pharmaceutical needs assessment”.
2
The pharmaceutical services to which each pharmaceutical needs assessment must relate are all the pharmaceutical services that may be provided under arrangements made by a Primary Care Trust for —
a
the provision of pharmaceutical services (including directed services) with a person on a pharmaceutical list;
b
the provision of local pharmaceutical services under an LPS scheme (but not LP services which are not local pharmaceutical services); or
c
the dispensing of drugs and appliances with a person on a dispensing doctors list (but not other NHS services that may be provided under arrangements made by a Primary Care Trust with a dispensing doctor).
Information to be contained in pharmaceutical needs assessments
3B
1
Each pharmaceutical needs assessment must contain the information set out in Schedule 3A.
2
Each Primary Care Trust must, in so far as is practicable, keep up to date the map which it includes in its pharmaceutical needs assessment pursuant to paragraph 8 of Schedule 3A (without needing to republish the whole of the assessment or publish a supplementary statement).
Date by which the first pharmaceutical needs assessment is to be published
3C
1
Each Primary Care Trust established on or before 1st April 2010 must publish its first pharmaceutical needs assessment on or before 1st February 2011.
2
Each Primary Care Trust established after 1st April 2010 must publish its first pharmaceutical needs assessment within 10 months of the date on which its PCT order comes into force.
Subsequent assessments
3D
1
After it has published its first pharmaceutical needs assessment, each Primary Care Trust must publish a statement of its revised assessment —
a
within 10 months of the coming into force of any order under section 18 of the 2006 Act varying its area; or
b
within 3 years of its previous publication of a pharmaceutical needs assessment.
2
A Primary Care Trust must make a revised assessment as soon as is reasonably practicable after identifying changes since the publication of its pharmaceutical needs assessment which are relevant to the granting of applications referred to in section 129(2)(c)(i) or (ii) of the 2006 Act, unless it is satisfied that making a revised assessment would be a disproportionate response to those changes.
3
Pending the publication of a statement of a revised assessment, a Primary Care Trust may publish a supplementary statement explaining changes to the availability of pharmaceutical services since the publication of its pharmaceutical needs assessment (and any such supplementary statement becomes part of that assessment), where —
a
the changes are relevant to the granting of applications referred to in section 129(2)(c)(i) or (ii) of the 2006 Act; and
b
the Primary Care Trust —
i
is satisfied that making a revised assessment would be a disproportionate response to those changes, or
ii
is in the course of making a revised assessment and is satisfied that immediate modification of its pharmaceutical needs assessment is essential in order to prevent detriment to the provision of pharmaceutical services in its area.
Temporary extension of pharmaceutical needs assessments
3E
As regards any locality, if —
a
the Primary Care Trust for that locality —
i
has changed as a result of the coming into force of a PCT order (whether that Order establishes a new Primary Care Trust or varies the area of a Primary Care Trust), and
ii
has not published a pharmaceutical needs assessment that relates to that locality; and
b
a pharmaceutical needs assessment which relates to that locality was published by a Primary Care Trust that was the Primary Care Trust for that locality before the coming into force of that PCT order,
pending the publication of a pharmaceutical needs assessment that relates to that locality by its (new) Primary Care Trust, the pharmaceutical needs assessment that relates to that locality is the pharmaceutical needs assessment mentioned in paragraph (b) (read with any supplementary statement relating to that assessment published under regulation 3D(3)).
Consultation
3F
1
When making an assessment for the purposes of publishing a pharmaceutical needs assessment, each Primary Care Trust must consult the following about the contents of the assessment it is making —
a
any Local Pharmaceutical Committee for its area (including a Local Pharmaceutical Committee formed for its area and that of one or more other Primary Care Trusts);
b
any Local Medical Committee for its area (including a Local Medical Committee formed for its area and that of one or more other Primary Care Trusts);
c
the persons on its pharmaceutical lists and its dispensing doctors list (if it has one);
d
any LPS chemist with whom the Primary Care Trust has made arrangements for the provision of any local pharmaceutical services;
e
any person with whom the Primary Care Trust has made arrangements for the provision of dispensing services;
f
any relevant local involvement network, and any other patient, consumer or community group in its area which in the opinion of the Primary Care Trust has an interest in the provision of pharmaceutical services in its area;
g
any local authority with which the Primary Care Trust is or has been a partner PCT;
h
any NHS trust or NHS foundation trust in its area; and
i
any neighbouring Primary Care Trust.
2
The persons mentioned in paragraph (1) must together be consulted at least once during the process of making the assessment on a draft of the proposed pharmaceutical needs assessment.
3
The persons consulted on the draft under paragraph (2) must be given a minimum period of 60 days for making their response to the consultation, beginning with the day by which all those persons have been served with the draft.
4
Where a Primary Care Trust is consulted under paragraph (2) on a draft of a proposed pharmaceutical needs assessment, if there is a Local Pharmaceutical Committee or Local Medical Committee for its area that is different to the Local Pharmaceutical Committee or Local Medical Committee consulted under paragraph (1)(a) or (b), the Primary Care Trust —
a
must consult that Committee before making its response to the consultation; and
b
must have regard to any representations received from the Committee when making its response to the consultation.
Matters for consideration when making assessments
3G
1
When making an assessment for the purposes of publishing a pharmaceutical needs assessment, each Primary Care Trust must have regard, in so far as it is practicable to do so, to the following matters —
a
any assessment or further assessment of relevant needs prepared under section 116 of the Local Government and Public Involvement in Health Act 2007 (health and social care: joint strategic needs assessments) —
i
in the preparation of which the Primary Care Trust —
aa
was a partner PCT, or
bb
was not a partner PCT but the assessment nevertheless related to its area, and
ii
which has not been superseded by a further assessment under that section;
b
the different needs of members of different groups in its area who share a common attribute in respect of any of the following matters —
i
age,
ii
disability,
iii
gender,
iv
proposed, commenced or completed reassignment of gender,
v
race,
vi
religion or belief, and
vii
sexual orientation,
and the different needs of members of different groups that share a common attribute in respect of more than one of the matters specified in paragraphs (i) to (vii);
c
the demography of its area;
d
the benefits from having a reasonable choice with regard to obtaining pharmaceutical services;
e
any different needs of different localities within its area;
f
the pharmaceutical services provided under arrangements with any neighbouring Primary Care Trust which affect —
i
the need for pharmaceutical services in its area, or
ii
whether further provision of pharmaceutical services in its area would secure improvements to or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area; and
g
any dispensing services or other NHS services provided in or outside its area (which are not covered by sub-paragraph (f)) which affect —
i
the need for pharmaceutical services in its area, or
ii
whether further provision of pharmaceutical services in its area would secure improvements to or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area;
2
When making an assessment for the purposes of publishing a pharmaceutical needs assessment, each Primary Care Trust must take account of likely future needs —
a
to the extent necessary to make a proper assessment of the matters mentioned in paragraphs 2 and 4 of Schedule 3A; and
b
having regard to likely changes to —
i
the number of people in its area who will require pharmaceutical services,
ii
the membership of the different groups in its area who share a common attribute in respect of one, or more than one, of the matters specified in paragraph (1)(b)(i) to (vii), and
iii
the risks to the health or well-being of people in its area, or to particular risks to the health or well-being of members of different groups in its area who share a common attribute in respect of one, or more than one, of the matters specified in paragraph (1)(b)(i) to (vii).
.
Amendment of regulation 18 and its heading
5
1
In regulation 18 (which relates to refusal of outline consent and premises approval), in paragraph (1)(a), for from “locality and” to “reserved location;” substitute “locality;”.
2
In the heading of regulation 18, omit “but not in a reserved location”.
Amendment of regulation 30
6
In regulation 30 (appeals against imposition of conditions and related decisions), in paragraph (3), for “FHSAA” substitute “First-tier Tribunal”.
Amendment of Schedule 1
7
In Schedule 1 (terms of service of pharmacists) —
a
in paragraph 34 (information to be supplied), in sub-paragraph (3A), for “4 to 7” substitute “4 to 8”; and
b
in paragraph 36 (charges for drugs and refunds), in sub-paragraph (4), for “on form FP57 0405 or FP57 0403” substitute “in such form and manner as the Secretary of State has determined for an application for such a repayment under regulation 10(2)(b) of the Charges Regulations ”.
Amendment of Schedule 3
8
In Schedule 3 (terms of service of suppliers of appliances) —
a
the paragraph 13A inserted by regulation 20 of the National Health Service (Pharmaceutical Services) (Appliances) (Amendment) Regulations 2009 (which relates to clinical governance) is renumbered as paragraph 13AA; and
b
in paragraph 21 (information to be supplied), in sub-paragraph (3A), for “4 to 7” substitute “4 to 8”.
New Schedule 3A
9
After Schedule 3, insert the following Schedule —
SCHEDULE 3A
Information to be contained in pharmaceutical needs assessments
Necessary services: current provision
1
A statement of the pharmaceutical services that the Primary Care Trust has identified as services that are provided —
a
in the area of the Primary Care Trust and which are necessary to meet the need for pharmaceutical services in its area; and
b
outside the area of the Primary Care Trust but which nevertheless contribute towards meeting the need for pharmaceutical services in its area (if the Primary Care Trust has identified such services).
Necessary services: gaps in provision
2
A statement of the pharmaceutical services that the Primary Care Trust has identified (if it has) as services that are not provided in the area of the Primary Care Trust but which the Primary Care Trust is satisfied —
a
need to be provided (whether or not they are located in the area of the Primary Care Trust) in order to meet a current need for pharmaceutical services, or pharmaceutical services of a specified type, in its area;
b
will, in specified future circumstances, need to be provided (whether or not they are located in the area of the Primary Care Trust) in order to meet a future need for pharmaceutical services, or pharmaceutical services of a specified type, in its area.
Other relevant services: current provision
3
A statement of the pharmaceutical services that the Primary Care Trust has identified (if it has) as services that are provided —
a
in the area of the Primary Care Trust and which, although they are not necessary to meet the need for pharmaceutical services in its area, nevertheless have secured improvements to, or better access to, pharmaceutical services in its area;
b
outside the area of the Primary Care Trust and which, although they do not contribute towards meeting the need for pharmaceutical services in its area, nevertheless have secured improvements to, or better access to, pharmaceutical services in its area;
c
in or outside the area of the Primary Care Trust and, whilst not being services of the types described in sub-paragraph (a) or (b), or paragraph 1, they nevertheless affect the assessment by the Primary Care Trust of the need for pharmaceutical services in its area.
Improvements and better access: gaps in provision
4
A statement of the pharmaceutical services that the Primary Care Trust has identified (if it has) as services that are not provided in the area of the Primary Care Trust but which the Primary Care Trust is satisfied —
a
would, if they were provided (whether or not they were located in the area of the Primary Care Trust), secure improvements to, or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area,
b
would, if in specified future circumstances they were provided (whether or not they were located in the area of the Primary Care Trust), secure future improvements to, or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area.
Dispensing services
5
A statement of any dispensing services to which the Primary Care Trust has had regard in its assessment, which affect —
a
the need for pharmaceutical services, or pharmaceutical services of a specified type, in its area; or
b
whether further provision of pharmaceutical services in its area would secure improvements to or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area.
Other NHS services
6
A statement of any NHS services provided by the Primary Care Trust, another Primary Care Trust, an NHS trust or an NHS foundation trust to which the Primary Care Trust has had regard in its assessment, which affect —
a
the need for pharmaceutical services, or pharmaceutical services of a specified type, in its area; or
b
whether further provision of pharmaceutical services in its area would secure improvements to or better access to, pharmaceutical services, or pharmaceutical services of a specified type, in its area.
How the assessment was carried out
7
An explanation of how the assessment has been carried out, and in particular —
a
how it has determined what are the localities in its area;
b
how it has taken into account (where applicable) —
i
the different needs of different localities in its area, and
ii
the different needs of members of different groups in its area that share a common attribute in respect of one, or more than one, of the matters specified in regulation 3G(1)(b)(i) to (vii); and
c
a report on the consultation that it has undertaken.
Map of provision
8
A map that identifies the premises at which pharmaceutical services and dispensing services are provided in the area of the PCT.
.
Amendment of Schedule 4
10
In Part 3 of Schedule 4 (information and undertakings to be given by an applicant in connection with an application for inclusion (or temporary inclusion) in a pharmaceutical list), in paragraph 8, for “name and address” substitute “name, address, date of birth and (where applicable) professional registration number”.
Amendments to the National Health Service (Local Pharmaceutical Services etc. ) Regulations 2006
11
In the National Health Service (Local Pharmaceutical Services etc.) Regulations 2006 —
a
in regulation 2 (interpretation), in paragraph (1) —
i
in the definition of “FHSAA”, after “Appeal Authority)” insert “and abolished on 18th January 2010 by article 3 of the Transfer of Tribunal Functions Order 2010 (abolition of tribunals)”, and
ii
in the definition of “national disqualification”, for “is treated” substitute “was, before 18th January 2010, treated”;
b
in regulation 4 (designation of priority neighbourhoods or premises) —
i
in paragraph (3), for “must designate” substitute “may designate”, and
ii
in paragraph (4), for “A designation” substitute “Any designation made”; and
c
in Schedule 2 (contract terms), in paragraph 18 (charges for drugs and refunds), for “on form FP57 0405 or FP57 0403” substitute “in such form and manner as the Secretary of State has determined for an application for such a repayment under regulation 10(2)(b) of the Charges Regulations”.
Signed by authority of the Secretary of State for Health
Mike O’Brien
Minister of State,
Department of Health
21st March 2010


text:
PART 1 GENERAL
Citation, commencement, application and interpretation
1
These Regulations may be cited as the Education (Student Support) (European University Institute) Regulations 2010 and come into force on 1st April 2010.
2
These Regulations apply in relation to England .
3
In these Regulations —
“ 1998 Act ” means the Teaching and Higher Education Act 1998;
“ 2006 Regulations ” means the Education (Student Support) (European Institutions) ( No. 2) Regulations 2006 ;
“academic authority” means the governing body or other body having the functions of a governing body of the Institute and includes a person acting with the authority of that body;
“current course” means the designated course in respect of which a person is applying for support or to be recognised as an eligible student;
“designated course” has the meaning given by regulation 10;
“eligible student” has the meaning given by regulation 9;
“ European Union ” means the territory comprised of the Member States of the European Union as constituted from time to time;
“grants for living and other costs” means the grants payable under regulation 17;
“Institute” means the European University Institute;
“person with leave to enter or remain” means a person —
who has been informed by a person acting under the authority of the Secretary of State for the Home Department that, although that person is considered not to qualify for recognition as a refugee, it is thought right to allow that person to enter or remain in the United Kingdom;
who has been granted leave to enter or remain accordingly;
whose period of leave to enter or remain has not expired or has been renewed and the period for which it was renewed has not expired or in respect of whose leave to enter or remain an appeal is pending (within the meaning of section 104 of the Nationality, Immigration and Asylum Act 2002 ); and
who has been ordinarily resident in the United Kingdom and Islands throughout the period since being granted leave to enter or remain;
“qualifying course” means a course —
which is —
a postgraduate or comparable course; and
of at least two academic years’ duration; and
in respect of which the student (“A”) received, for at least two academic years of the course, a statutory award other than an award intended to assist with additional expenditure that A was obliged to incur in connection with A’s attendance on the course by reason of a disability to which A is or was subject;
“refugee” means a person who is recognised by Her Majesty’s government as a refugee within the meaning of the United Nations Convention relating to the Status of Refugees done at Geneva on 28th July 1951 as extended by the Protocol thereto which entered into force on 4th October 1967 ;
“relevant date” means 1st May 2010;
“statutory award” means any award bestowed, grant paid or other support provided by virtue of the 1998 Act or the Education Act 1962 , or any comparable award, grant or other support in respect of undertaking a course which is paid out of public funds;
“student loans legislation” means the Education (Student Loans) Act 1990 , the Education (Student Loans) (Northern Ireland) Order 1990 , the Education (Scotland) Act 1980 and regulations made thereunder, the Education (Student Support) (Northern Ireland) Order 1998 and regulations made thereunder or the 1998 Act and regulations made thereunder;
“supplementary grants” means the grants payable under Chapter 2 of Part 4;
“Turkish worker” means a Turkish national who —
is ordinarily resident in the United Kingdom and Islands; and
is, or had been, lawfully employed in the United Kingdom.
Revocation and saving provisions
4
Subject to regulations 5 and 6, the regulations listed under Schedule 3 are revoked in relation to England.
5
The 2006 Regulations shall continue to apply in relation to England in respect of an academic year beginning on or after 1st September 2009 but before 1st September 2010 and in respect of an academic year beginning on or after 1st September 2008 but before 1st September 2009 so far as the 2006 Regulations relate to an academic year beginning in that period.
6
1
Regulation 21(5) of the 2006 Regulations shall continue to apply in respect of a student at the Institute whose course of study —
a
commenced prior to 1st September 2010; and
b
continues after 31st August 2010.
2
Regulation 22 of the 2006 Regulations continues to apply insofar as it relates to regulation 21(5).
7
These Regulations apply in relation to the provision of support to students in relation to an academic year which begins on or after 1st September 2010 whether anything done under these Regulations is done before, on or after 1st September 2010.
PART 2 APPLYING FOR SUPPORT AND ELIGIBILITY
Applications
8
1
Unless a person (“the applicant”) seeking support under these Regulations is already an eligible student by virtue of regulation 9(9), the applicant must submit an application to be considered as an eligible student and an application for support in such form as the Secretary of State may require to the Institute by the application deadline.
2
Where a person (“the applicant”) seeking support under these Regulations is already an eligible student by virtue of regulation 9(9), the applicant must notify the Secretary of State in writing by the application deadline that the applicant wishes to apply for support under these Regulations.
3
Subject to paragraph (4), the application deadline in relation to an academic year beginning on or after 1st September 2010 is 30th April 2010.
4
The Secretary of State may extend the application deadline if the Secretary of State considers that the circumstances of the case warrant it.
Eligible students
9
1
An eligible student qualifies for support in connection with the student’s attendance on a designated course subject to and in accordance with these Regulations.
2
Subject to paragraphs (3) and (7), a person is an eligible student in connection with a designated course if —
a
the academic authority notifies the Secretary of State in writing that the person has a reasonable chance of being offered a place on a designated course by the academic authority; and
b
the Secretary of State determines in connection with an application for support under these Regulations that the person falls within one of the categories in Part 2 of Schedule 1.
3
A person (“A”) is not an eligible student if —
a
subject to paragraph (4), A has attended a qualifying course;
b
A is in breach of an obligation to repay any loan;
c
A has reached the age of 18 and not ratified any agreement for a loan made with A when A was under the age of 18; or
d
A has, in the opinion of the Secretary of State, shown by A’s conduct to be unfitted to receive support.
4
Paragraph (3)(a) does not apply where the person has attended a qualifying course but the Secretary of State has determined that having regard to the particular circumstances of that person’s case it is appropriate to pay that person support in connection with the current course.
5
For the purposes of paragraph (3)(b) and (c), “loan” means a loan made under the student loans legislation.
6
In the case where the agreement for a loan is subject to the law of Scotland, paragraph (3)(c) applies only if the agreement was made —
a
before 25th September 1991; and
b
with the concurrence of the borrower’s curator or at a time when the borrower had no curator.
7
The number of eligible students shall not exceed 20.
8
An eligible student in respect of whom the first academic year of the course begins on or after 1st September 2000 shall not, at any one time, qualify for support for more than one designated course.
9
Despite paragraphs (2) and (3) and subject to paragraphs (7), (10) and (11), a person (“A”) is an eligible student in connection with a designated course if —
a
A qualified as an eligible student in connection with —
i
an earlier academic year of the current course; or
ii
a designated course that A attended and from which A’s status as an eligible student was transferred to the current course; and
b
A’s status as an eligible student has not terminated.
10
Where —
a
the Secretary of State determined that, by virtue of being a refugee or the spouse, civil partner, child or step-child of a refugee, a person (“A”) was an eligible student in connection with an application for support for an earlier year of the current course or in connection with an application for support for a designated course at the Institute from which A’s status as an eligible student has been transferred to the current course; and
b
the refugee status of A or A’s spouse, civil partner, parent or step-parent, as the case may be, is due to expire before the first day of the academic year in respect of which A is applying for support and, as at the day before the that academic year begins, no further leave to remain has been granted and no appeal is pending (within the meaning of section 104 of the Nationality, Immigration and Asylum Act 2002),
A’s status as an eligible student terminates on the day before the first day of the academic year in respect of which A is applying for support.
11
Where —
a
the Secretary of State determined that, by virtue of being a person with leave to enter or remain or the spouse, civil partner, child or step-child of such a person, a person (“A”) was an eligible student in connection with an application for support for an earlier year of the current course or in connection with an application for support for a designated course from which A’s status as an eligible student has been transferred to the current course; and
b
the period for which the person with leave to enter or remain is allowed to stay in the United Kingdom is due to expire before the first day of the academic year in respect of which A is applying for support and, as at the day before the that academic year begins, no further leave to remain has been granted and no appeal is pending (within the meaning of section 104 of the Nationality, Immigration and Asylum Act 2002),
A’s status as an eligible student terminates on the day before the first day of the academic year in respect of which A is applying for support.
12
The Secretary of State may take such steps and make such enquiries as the Secretary of State considers necessary to determine whether a person is an eligible student.
13
The Secretary of State must inform a person who has been notified to the Secretary of State under paragraph (2)(a) whether that person qualifies as an eligible student.
14
A person who has received notification from the Secretary of State under paragraph (13) that that person is an eligible student in connection with a designated course and a person who is an eligible student by virtue of paragraph (9) must, by the deadline for receipt of financial information, provide the Secretary of State with any information or documentation that the Secretary of State requests in order to determine the amount of support payable under these Regulations in respect of the academic year.
15
The deadline for receipt of financial information, in relation to an academic year beginning on or after 1st September 2010, is 30th April 2010 or, in the case of grants payable under regulation 17(5), 28th February 2011.
16
The Secretary of State must notify an eligible student of the amount of support payable in respect of the academic year, if any.
Designated course
10
A course is designated for the purposes of section 22(1) of the 1998 Act and regulation 9 if it is —
a
a postgraduate or comparable course;
b
a full-time course;
c
of at least one academic year’s duration; and
d
provided by the Institute.
Period of eligibility
11
1
Subject to the following paragraphs and regulation 9 a student’s status as an eligible student in connection with a designated course will terminate at the end of the academic year in which the Institute would ordinarily expect the student to complete the course (“period of eligibility”).
2
The period of eligibility terminates when the student —
a
withdraws from the designated course in circumstances in which the Secretary of State will not transfer the student’s status as an eligible student in accordance with regulation 12; or
b
abandons or is expelled from the designated course.
3
The Secretary of State may terminate a period of eligibility where the conduct of the student means that the student is unfitted to receive support.
4
Where the student’s period of eligibility will terminate before the end of the academic year in which the student will actually complete the course, the Secretary of State may, at any time, extend or renew the period of eligibility for such period as the Secretary of State determines.
5
If the Secretary of State is satisfied that the student has failed to comply with any requirement to provide any information under these Regulations or has provided information which is inaccurate in a material particular, the Secretary of State may do one or more of the following —
a
terminate the student’s period of eligibility;
b
determine that the student no longer qualifies for any particular type of support or particular amount of support;
c
treat any support already paid to the student as an overpayment which may be recovered in accordance with regulation 32.
Transfer of eligibility
12
1
Where an eligible student transfers to another designated course at the Institute, the Secretary of State must transfer the student’s status as an eligible student where —
a
the Secretary of State receives a request from the eligible student to do so;
b
the Secretary of State is satisfied that the eligible student has begun to attend that other course on the recommendation of the academic authority; and
c
the student’s status as an eligible student has not terminated.
2
An eligible student who transfers under paragraph (1) shall receive in connection with the academic year of the course to which that eligible student transfers the remainder of the support assessed by the Secretary of State in respect of the academic year of the course from which the eligible student transfers.
3
An eligible student (“A”) who transfers under paragraph (1) after the Secretary of State has assessed support in connection with the academic year of the course from which A is transferring but before A completes that year may not, in connection with the academic year of the course to which A transfers, apply for another grant of a kind that A has already applied for under these Regulations in connection with the academic year of the course from which A is transferring.
PART 3 PROVISION OF INFORMATION
Information
13
Every applicant and eligible student must, as soon as reasonably practicable after being requested to do so, provide the Secretary of State with such information as the Secretary of State considers to be required for the purposes of these Regulations.
14
Every applicant and eligible student must forthwith inform the Secretary of State and provide the Secretary of State with particulars if any of the following occurs —
a
the applicant or student withdraws from, abandons or is expelled from the course;
b
the applicant or student transfers to another course at the Institute;
c
the applicant or student ceases to attend the course and does not intend to or is not permitted to continue it for the remainder of the academic year;
d
the applicant or student is absent from the course for more than 60 days due to illness or for any period for any other reason;
e
the month for the start or the completion of the course changes;
f
the applicant or student’s home or term-time address changes.
15
Information provided to the Secretary of State pursuant to these Regulations must be in the format required by the Secretary of State and, if the Secretary of State requires the information to be signed by the person providing it, an electronic signature in such form as the Secretary of State may specify satisfies this requirement.
PART 4 FINANCIAL SUPPORT
General
16
1
Subject to paragraph (2), an eligible student who is attending a designated course qualifies in connection with an academic year of that course for —
a
grants for living and other costs in accordance with Chapter 1; and
b
supplementary grants in accordance with Chapter 2.
2
If the academic year in respect of which the eligible student has applied for support is a year of repeat study the Secretary of State may determine that —
a
the student does not qualify for a particular type or amount of support in respect of the year of repeat study; or
b
the student does not qualify for any support in respect of that year of repeat study.
3
In determining whether an eligible student should not qualify for some or any additional support in accordance with paragraph (2) the Secretary of State shall have regard to the circumstances of the case and in particular the reasons for which the student has been required to repeat the academic year.
4
For the purposes of this regulation, “year of repeat study” means an academic year or part of an academic year which the student has previously attended but is required by the Institute to attend again.
CHAPTER 1
GRANTS FOR EUROPEAN UNIVERSITY INSTITUTE STUDENTS
Grants for living and other costs
17
1
Subject to paragraphs (2) and (3), a student qualifies in respect of an academic year for the grants for living and other costs specified in and calculated in accordance with paragraphs (3) to (6).
2
A student does not qualify for any of the grants payable under this regulation if paragraph 9 of Part 2 of Schedule 1 is the only paragraph of Part 2 of that Schedule into which the student falls.
3
A student qualifies for a grant for living costs of 18,099 euro in relation to an academic year beginning on or after 1st September 2010.
4
A student qualifies for a grant for travel home of the amount determined by the Secretary of State to be the reasonable cost of one return journey from the student’s home address to the Institute;
5
Subject to prior agreement of the Secretary of State, before costs are incurred, a student qualifies for a grant for research travel of the amount determined by the Secretary of State to be the reasonable cost of travel incurred for the purposes of completing periods of research authorised by the Institute during the academic year in respect of which support is being applied for.
6
A student qualifies for a grant for medical insurance of the amount determined by the Secretary of State to be the reasonable cost of insuring the student against liability for the cost of medical treatment provided outside of the United Kingdom where the ordinary duration of the course is more than one academic year.
18
A deduction may be made in accordance with Part 5 from the amount payable in respect of any of the grants calculated under paragraphs (3), (4) and (5) of regulation 17.
CHAPTER 2
SUPPLEMENTARY GRANTS
Disabled students’ allowance
19
1
Subject to paragraph (2), a student (“A”) qualifies for a disabled students’ allowance to assist with the additional expenditure which the Secretary of State is satisfied that A is obliged to incur by reason of a disability to which A is subject in respect of A’s attendance at a designated course.
2
A student does not qualify for a disabled students’ allowance if paragraph 9 of Part 2 of Schedule 1 is the only paragraph of Part 2 of that Schedule into which the student falls.
Amount of disabled students’ allowance
20
1
Subject to paragraph (2), the amount of the disabled students’ allowance is the amount that the Secretary of State considers appropriate in accordance with the student’s circumstances to assist with one or more types of eligible expenditure.
2
The amount of disabled students’ allowance must not exceed £10,260 in respect of an academic year.
3
The “types of eligible expenditure” are —
a
expenditure on a non-medical personal helper;
b
expenditure on major items of specialist equipment;
c
any additional expenditure incurred —
i
in Italy for the purpose of attending the Institute; and
ii
within or outside the United Kingdom for the purpose of travelling to the Institute in order to attend the relevant course.
Grant for dependants
21
1
The grant for dependants consists of the following elements —
a
adult dependants’ grant; and
b
parents’ learning allowance.
2
The qualifying conditions for each element are set out in regulations 22 to 26.
Adult dependants’ grant
22
1
Subject to paragraph (3), a student qualifies for an adult dependants’ grant in connection with that student’s attendance on a designated course in accordance with this regulation.
2
The adult dependants’ grant is available in respect of a dependant of an eligible student who is either —
a
the student’s partner; or
b
an adult dependant of the student whose net income does not exceed £3,796.
3
A student does not qualify for the grant payable under this regulation if paragraph 9 of Part 2 of Schedule 1 is the only paragraph of Part 2 of that Schedule into which the student falls.
23
1
The amount of the adult dependants’ grant payable in respect of an academic year is calculated in accordance with regulation 25, the basic amount being —
a
in respect of the current academic year, £2,642; or
b
where the person in respect of whom the student is applying for adult dependants’ grant is ordinarily resident outside of the United Kingdom, such amount not exceeding £2,642 as the Secretary of State considers reasonable in the circumstances.
Parents’ learning allowance
24
1
Subject to paragraph (2), a student qualifies in connection with that student’s attendance on a designated course for the parents’ learning allowance if that student has one or more dependants who are dependent children.
2
A student does not qualify for the grant payable under this regulation if paragraph 9 of Part 2 of Schedule 1 is the only paragraph of Part 2 of that Schedule into which the student falls.
3
The amount of the parents’ learning allowance payable in respect of an academic year is calculated in accordance with regulation 25, the basic amount being £1,508.
Calculations
25
1
Subject to the following paragraphs, the amount payable in respect of a particular element of the grant for dependants for which the student qualifies under regulations 22 to 24 is the amount of that element remaining after applying, until it is extinguished or no element remains payable under regulations 22 to 24, an amount equal to ( A – B) as follows and in the following order —
a
to reduce the basic amount of the adult dependants’ grant where the student qualifies for that element under regulation 22; and
b
to reduce the basic amount of the parents’ learning allowance where the student qualifies for that element under regulation 24.
2
Subject to paragraphs (4) and (5), where B is greater than or equal to A , the basic amount of each element of the grant for dependants for which the student qualifies is payable.
3
Where ( A – B) is equal to or exceeds the aggregate of the basic amounts of the elements of the grant for dependants for which the eligible student qualifies, the amount payable in respect of each element is nil.
4
The amount of adult dependants’ grant calculated under paragraph (1) in respect of an adult dependant is reduced by one half where —
a
the student’s partner —
i
is an eligible student; or
ii
holds a statutory award; and
b
account is taken of that partner’s dependants in calculating the amount of support for which that partner qualifies or the payment to which the partner is entitled under the statutory award.
5
Where the amount of the parents’ learning allowance calculated under paragraph (1) is £0.01 or more but less than £50, the amount of parents’ learning allowance payable is £50.
6
For the purposes of this regulation —
A is the aggregate of the net income of each of the eligible student’s dependants; and
B is —
£1,159 where the student has no dependent children;
£3,473 where the student is not a lone parent and has one dependent child;
£4,627 where the student is not a lone parent and has more than one dependent child;
£4,627 where the student is a lone parent and has one dependent child;
£5,792 where the student is a lone parent and has more than one dependent child.
26
A deduction may be made in accordance with Part 5 from the amount payable in respect of a particular element of the grant for dependants calculated in accordance with regulations 22 to 25.
Interpretation
27
1
For the purposes of regulations 22 to 26 —
a
“adult dependant” means, in relation to a student (“A”), an adult person dependent on A but does not include A’s child, A’s partner (including a spouse or civil partner from whom the Secretary of State considers the student is separated) or A’s former partner;
b
“child” in relation to a student (“A”) includes any child of A’s partner who is dependent on A and any child for whom A has parental responsibility who is dependent on A;
c
“dependant” means, in relation to a student (“A”), A’s partner, A’s dependent child or an adult dependant, who in each case is not an eligible student and does not hold a statutory award;
d
“dependent” means wholly or mainly financially dependent;
e
“lone parent” means a student who does not have a partner and who has a dependent child;
f
“net income” has the meaning given in paragraph (2);
g
subject to sub-paragraphs (h), (i) and (j), “partner” means any of the following —
i
the spouse of a student;
ii
the civil partner of a student;
iii
a person ordinarily living with a student (“A”) as if that person were A’s spouse where A was aged 25 or over at the start of the academic year in respect of which A’s contribution falls to be assessed;
iv
a person ordinarily living with a student (“A”) as if that person were A’s civil partner where A was aged 25 or over at the start of the academic year in respect of which A’s contribution falls to be assessed;
h
unless otherwise indicated, a person who would otherwise be a partner under subparagraph (g) is not to be treated as a partner if —
i
in the opinion of the Secretary of State, that person and the student are separated; or
ii
the person is ordinarily living outside the United Kingdom and is not maintained by the student;
i
for the purposes of the definition of “adult dependant”, a person is to be treated as a partner if that person would be a partner under sub-paragraph (g) but for the fact that the student with whom that person is living was not aged 25 or over at the start of the academic year in respect of which the student’s contribution falls to be assessed;
j
for the purposes of the definitions of “child” and “lone parent”, a person is to be treated as a partner if that person would be a partner under sub-paragraph (g) but for the date on which the student began the designated course or the fact that the student with whom that person is ordinarily resident was not aged 25 or over at the start of the academic year in respect of which the student’s contribution falls to be assessed.
2
Subject to paragraph (3), a dependant’s net income is that person’s income from all sources for the academic year in question reduced by the amount of income tax and social security contributions payable in respect of it but disregarding —
a
any pension, allowance or other benefit paid by reason of a disability or incapacity to which the dependant is subject;
b
child benefit payable under Part IX of the Social Security Contributions and Benefits Act 1992 ;
c
any financial support payable to the dependant by a local authority in accordance with regulations made under sections 2, 3 and 4 of the Adoption and Children Act 2002 ;
d
any guardian’s allowance to which the dependant is entitled under section 77 of the Social Security Contributions and Benefits Act 1992;
e
in the case of a dependant with whom a child being looked after by a local authority is boarded out, any payment made to that dependant in pursuance of section 23 of the Children Act 1989 ;
f
any payments made to the dependant under section 15 of and Schedule 1 to the Children Act 1989 in respect of a person who is not the dependant’s child or any assistance given by a local authority pursuant to section 24 of that Act; and
g
any child tax credit to which the dependant is entitled under Part 1 of the Tax Credits Act 2002.
3
Where a student or that student’s partner makes any recurrent payments which were previously made by the student in pursuance of an obligation incurred before the first academic year of the student’s course, the partner’s net income is net income calculated in accordance with paragraph (2) reduced by —
a
an amount equal to the payments in question for the academic year, if in the opinion of the Secretary of State the obligation has been reasonably incurred; or
b
such lesser amount, if any, as the Secretary of State considers appropriate if, in the Secretary of State’s opinion, a lesser obligation could reasonably have been incurred.
4
For the purposes of paragraph (2), where —
a
the dependant is a dependent child; and
b
payments are made to the student towards the child’s maintenance,
those payments are to be treated as the child’s income.
PART 5 CONTRIBUTIONS
Student’s contributions
28
A student’s contribution in respect of an academic year is the amount, if any, calculated under Schedule 2.
Application of the student’s contribution
29
The contribution calculated in accordance with regulation 28 shall be applied in accordance with regulation 30.
30
1
The Secretary of State must apply the student’s contribution —
a
first, to reduce the amount of grant for living costs calculated in accordance with regulation 17(3);
b
second —
i
in the case of a student who is eligible for the grant for dependants, to reduce in the following order —
aa
the amount of any adult dependants’ grant calculated in accordance with regulation 25;
bb
the amount of any parents’ learning allowance calculated in accordance with regulation 25;
cc
the amount of any grant for travel home calculated in accordance with regulation 17(4);
ii
in any other case, to reduce the amount of grant for travel home calculated in accordance with regulation 17(4);
c
third, subject to paragraph (2), to reduce the amount of grant for research travel in accordance with regulation 17(5).
2
Where the contribution available to reduce the amount of grant for research travel in accordance with paragraph (1)(c) exceeds the amount of that grant calculated under regulation 17(5), the amount of that grant payable to the student is nil.
PART 6 PAYMENTS
Payments for grants of living and other costs and supplementary grants
31
1
The Secretary of State may pay the grants for the living and other costs and the supplementary grants for which a student qualifies in such instalments and at such times as the Secretary of State considers appropriate.
2
The Secretary of State may, if the Secretary of State considers it appropriate to do so, pay the grant payable under regulation 17(3) to the Institute for the Institute to pay the relevant grant on the Secretary of State’s behalf.
3
Where a final assessment of the amount of grants for living and other costs or supplementary grants payable to a student cannot be made on the basis of the information provided by the student, the Secretary of State may make provisional payments of those grants pending the final assessment.
4
The Secretary of State may, if the Secretary of State considers it appropriate to do so, make a payment of a disabled students’ allowance before the start of the academic year in respect of which that payment is due.
5
Where the circumstances in regulation 14(a) or regulation 14(c) apply, the Secretary of State must not make any payments of support to a student after the date on which that student stops attending the course unless the Secretary of State considers it appropriate to do so taking into account the circumstances of the student’s case.
6
The Secretary of State must not make any payments of support to a student who is absent from the course —
a
for more than 60 days due to illness; or
b
for any period for any other reason,
unless the Secretary of State considers that it is appropriate to do so taking into account the circumstances of the student’s case.
Overpayments
32
An eligible student shall, if required to do so by the Secretary of State, repay any amount paid to that student under Part 4 which for whatever reason exceeds the amount of support to which that student is entitled under Part 4.
David Lammy
Minister for Higher Education and Intellectual Property
Department for Business, Innovation and Skills
23rd February 2010


text:
Citation and commencement
1
These Regulations may be cited as the Income Tax (Construction Industry Scheme) (Amendment No. 2) Regulations 2010 and shall come into force on 14th November 2010.
Amendment of the Income Tax (Construction Industry Scheme) Regulations 2005
2
The Income Tax (Construction Industry Scheme) Regulations 2005 are amended as follows.
3
In regulation 8(3) (quarterly tax periods), in the definition of the “SP” element of the formula contained in regulation 8(2), for “statutory paternity pay” substitute “ordinary statutory paternity pay, additional statutory paternity pay”.
4
In regulation 56 (application by the Commissioners for Her Majesty’s Revenue and Customs of sums deducted from contract payments) —
a
in paragraph (2)(e) for “statutory paternity pay” substitute “ordinary statutory paternity pay, additional statutory paternity pay”,
b
in paragraph (7)(a) for statutory paternity pay substitute “ordinary statutory paternity pay”,
c
after paragraph (7)(a) insert —
aa
in respect of additional statutory paternity pay, regulations 4, 5, 6 and 8 of either the Additional Statutory Paternity Pay (Birth, Adoption and Adoptions from Overseas) (Administration) Regulations 2010 or the Additional Statutory Paternity Pay (Birth, Adoption and Adoptions from Overseas) (Administration) Regulations (Northern Ireland) 2010 ;
.
Bernadette Kenny
Melanie Dawes
Two of the Commissioners for Her Majesty’s Revenue and Customs
13th October 2010