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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Trading Schemes (Exclusion) (Amendment) Regulations 1997 No. 1887 URL: http://www.bailii.org/uk/legis/num_reg/1997/uksi_19971887_en.html |
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Statutory Instruments
FAIR TRADING
Made
30th July 1997
Laid before Parliament
31st July 1997
Coming into force
21st August 1997
The Secretary of State in exercise of his powers under section 118(6)(b) of the Fair Trading Act 1973(1) hereby makes the following Regulations:-
1. These Regulations may be cited as the Trading Schemes (Exclusion) (Amendment) Regulations 1997 and shall come into force on 21st August 1997.
2. The Trading Schemes (Exclusion) Regulations 1997(2) are hereby amended:
(a)in regulation 3(a), by substituting for the words from the beginning of that paragraph to the word "does":-
"any trading scheme which is a single tier trading scheme under which a participant operating at a level immediately below that of the promoter or single participant in the UK, who introduces another participant to the scheme at that level,"
(b)by substituting the following for regulation 3(b):-
"(b)any trading scheme all of the participants in which are making or have the intention of making taxable supplies in the UK and are registered for Value Added Tax; or"
Nigel Griffiths,
Parliamentary Under-Secretary of State for Competition and Consumer Affairs,
Department of Trade and Industry
30th July 1997
(This note is not part of the Regulations)
These Regulations amend the Trading Schemes (Exclusion) Regulations 1997.
Regulation 3(a) has been amended to apply the £50 limit on benefits to participants only in respect of horizontal recruitments by participant operating at the level immediately below that of the promoter or single participant operating in the UK.
Regulation 3(b) has been amended so that trading schemes in which participants or promoters who do not make taxable supplies in the UK are not registered for Value Added Tax can benefit from these Regulations.
1973 c. 41; Part XI was amended by the Trading Schemes Act 1996 c. 32.
S.I. 1997/31.
