The National Savings Stock Register (Amendment) (No. 2) Regulations 1993

Made: 14th December 1993

Laid before Parliament: 14th December 1993

Coming into force: 5th January 1994

The Treasury, in exercise of the powers conferred upon them by section 3 of the National Debt Act 1972[^f00001] and of all other powers enabling them in that behalf, hereby make the following Regulations:—

1

These Regulations may be cited as the National Savings Stock Register (Amendment) (No. 2) Regulations 1993 and shall come into force on 5th January 1994.

2

The National Saving Stock Register Regulations 1976[^f00002] shall be amended in regulation 42(1) by substituting for the figure “£25,000” the figure “£50,000”.

Signed

Tim Wood — Timothy Kirkhope — Two of the Lords Commissioners of Her Majesty’s Treasury — 14th December 1993

Explanatory note

(This note is not part of the Regulations)

Regulation 42 of the National Savings Stock Register Regulations 1976 makes provision in respect of inheritance tax (and its predecessor taxes) chargeable on the death of a holder of stock. Before any payment in respect of, or transfer of, any of the stock of such a holder may be made regulation 42 requires the production of a statement from the Commissioners of the Inland Revenue that such tax is not payable in respect of the stock or has been paid where the aggregate value of the deceased’s holding of stock and certain other assets of the deceased exceeds £25,000. These Regulations increase that amount to £50,000.

Footnotes

[^f00001]: 1972 c. 65.

[^f00002]: S.I. 1976/2012; the relevant amending instrument is S.I. 1982/489.