2.  In regulation 5(1) of the Taxes (Interest Rate) Regulations 1989(1)—

(a) for “6th March 1999” there shall be substituted “6th January 2002”;

(b) for “6.25 per cent. per annum” there shall be substituted “5 per cent. per annum”.

(1)

S.I. 1989/1297; relevant amending instruments are S.I. 1994/1307, 1567, 2657, 1995/2436, 1996/54, 1321 and 2644, 1997/1681, and 1999/419.