Regulation 5
Amendment of regulation 4
of Income Tax (Qualifying Project Debt Securities) (Amendment) Regulations 2026
In the principal Regulations, in regulation 4(1) —
replace sub-paragraph (b) with —“(b)where the qualifying project debt securities are issued during the period from 1 November 2006 to 31 December 2025 (both dates inclusive) under a programme, the programme as a whole is arranged by —
a financial sector incentive (bond market) company, and the arrangement is completed on or before 31 December 2018; or (ii)a financial sector incentive (project finance) company, and the arrangement is completed on or before 31 December 2016;”;
in sub-paragraphs (ba) and (bb), after “31 December 2025”, insert “(both dates inclusive)”;
in sub-paragraph (c), after “31 December 2022”, insert “(both dates inclusive)”;
in sub-paragraph (c), replace sub-paragraph (i) with —“(i)the participation of the new issuer in the programme is arranged by —
a financial sector incentive (bond market) company, and the arrangement of the participation is completed on or before 31 December 2018; or
a financial sector incentive (project finance) company, and the arrangement of the participation is completed on or before 31 December 2016; and”;
in sub-paragraph (c)(ii)(A), after “an affiliate of an approved bond intermediary”, insert “, and the arrangement of the programme is completed on or before that date”;
in sub-paragraph (c)(ii)(B), after “financial sector incentive (project finance) company”, insert “, and the arrangement of the programme is completed by the affiliate of the financial sector incentive (bond market) company on or before 31 December 2018 or the affiliate of the financial sector incentive (project finance) company on or before 31 December 2016, as the case may be”;
in sub-paragraph (ca), after “31 December 2025”, insert “(both dates inclusive)”; and
in sub-paragraph (ca)(ii)(A), after “financial sector incentive (project finance) company”, insert “, and the arrangement of the programme is completed by the affiliate of the financial sector incentive (bond market) company on or before 31 December 2018 or the affiliate of the financial sector incentive (project finance) company on or before 31 December 2016, as the case may be”.