SCHEDULES
SCHEDULE 20Taxation of hybrid capital instruments
PART 2Corporation tax, income tax and capital gains tax
16Commencement for purposes of income tax and CGT
1
2
But the revocations made by paragraph 1—
a
do not affect the application of regulation 6 or 9 of the Taxation of Regulatory Capital Securities Regulations 2013 in relation to payments made before the day on which this Act is passed, and
b
do not, in the case of a transitional qualifying instrument, apply to payments made before 1 January 2024 in any case where regulation 6 or 9 of those Regulations would have applied but for the provision made by paragraph 1.