SI 2019/1251 - The Hybrid and Other Mismatches (Financial Instrument: Exclusions) Regulations 2019

Released 10 September 2019

SI 2019/1251 supplements the TIOPA 2010, s. 259N definition of ‘financial instrument’ from 29 November 2019.

The Hybrid and Other Mismatches (Financial Instrument: Exclusions) Regulations 2019 supplement the definition of ‘financial instrument’ in the Taxation (International and Other Provisions) Act 2010, s. 259N which falls within Pt. 6A of that Act (hybrid and other mismatches). TIOPA 2010, s. 259N(1) defines ‘financial instrument’. Under s. 259N(3), ‘financial instrument’ does not include a hybrid transfer arrangement (within the meaning given by s. 259DB) or anything of a description specified in regulations made by the Treasury. These Regulations specify other things which are not a ‘financial instrument’. The regulations come into force on 29 November 2019.

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