Economy Legislation
Regulations governing economic policy, monetary matters, taxation, public spending, and market regulation.
The National Security Act 2023 (Commencement No. 2) Regulations 2025
These regulations, the second set under the National Security Act 2023, bring into effect Part 4 of that Act, specifically the foreign activities and foreign influence registration scheme.
This scheme starts on July 1st, 2025, and applies across England, Wales, Scotland, and Northern Ireland.
The regulations cite the power conferred by section 100(1) of the 2023 Act and provide for detailed commencement information.
An impact assessment is available online and in hard copy.
The Private Intermittent Securities and Capital Exchange System (Exemption from Stamp Duties) Regulations 2025
These regulations, effective July 3rd, 2025, exempt stamp duties on PISCES share transfers occurring within a designated sandbox environment established under the Financial Services and Markets Act 2023.
The regulations define key terms like "PISCES," "PISCES sandbox arrangements," and "PISCES share" by referencing the Financial Services and Markets Act 2023 (Private Intermittent Securities and Capital Exchange System Sandbox) Regulations 2025.
An accompanying explanatory note clarifies the exemption's purpose and directs readers to a Tax Information and Impact Note for further details.
The National Security Act 2023 (Foreign Activities and Foreign Influence Registration Scheme: Exemptions for Certain Foreign Power Investment Funds, Education, Government Administration and Public Bodies) Regulations 2025
- Benefits and Welfare
- Defence
- Devolution
- Economy
- Education
- Foreign Policy
- Justice
- Local Government
- Transport
These regulations, enacted under the National Security Act 2023, exempt specific categories of activities from the foreign activities and foreign influence registration scheme.
The exemptions cover certain foreign power investment funds focused primarily on overseas investments, educational arrangements supporting students in the UK, administrative and technical services provided by foreign powers, and arrangements involving UK public bodies (excluding those related to political influence).
The aim is to streamline the registration process while maintaining national security.
These regulations amend several existing UK statutory instruments to reflect the abolition of the Institute for Apprenticeships and Technical Education and the subsequent transfer of its functions to the Secretary of State.
Specifically, the regulations replace references to the Institute with the Secretary of State in the Education (Student Support) Regulations 2011 and amend the Apprenticeships (Miscellaneous Provisions) Regulations 2017, removing the Institute’s power to charge fees for evaluating apprenticeship assessments.
Additionally, they remove the Institute from listings of public bodies in the Trade Union (Facility Time Publication Requirements) Regulations 2017 and the Trade Union (Deduction of Union Subscriptions from Wages in the Public Sector) Regulations 2024.
The regulations came into force on July 2nd, 2025.
The Code Manager Selection (Competitive) Regulations 2025 establish a framework for the Gas and Electricity Markets Authority to competitively select code managers for designated documents.
The regulations detail eligibility requirements, conflict-of-interest provisions, selection criteria, notice publication procedures, and provisions for cancellation or disqualification.
The selection process includes an open or restricted procedure, with the Authority publishing notices at each stage and considering any representations received.
The Branded Health Service Medicines (Costs) (Amendment) Regulations 2025
The Branded Health Service Medicines (Costs) (Amendment) Regulations 2025 modify the 2018 regulations governing payments from manufacturers and suppliers of branded medicines.
Key changes include altering payment percentages for different periods and updating auditing requirements for presentation reports, allowing an alternative 'agreed upon' procedure instead of a full audit.
The amendments aim to improve efficiency, ensure fair payment, and streamline administrative processes.
The Register of Overseas Entities (Annotation) Regulations 2025
The Register of Overseas Entities (Annotation) Regulations 2025 empower the registrar to add notes to the register concerning dissolved overseas entities or those that have failed to comply with information requirements.
These annotations enhance transparency and aid enforcement of the Economic Crime (Transparency and Enforcement) Act 2022 and the Companies Act 2006.
The regulations extend to England, Wales, Scotland, and Northern Ireland and came into effect on June 30, 2025.
The Local Audit (Modification of Financial Reporting Requirements) Regulations 2025
These regulations, effective June 26, 2025, amend the Local Audit and Accountability Act 2014.
They modify the financial reporting requirements for four specific combined county authorities in England and Wales: Devon and Torbay, Greater Lincolnshire, Hull and East Yorkshire, and Lancashire. The changes disapply the requirement to prepare accounts for the financial year beginning April 1, 2024, and adjust the reporting period for the financial year beginning April 1, 2025, to start on February 5, 2025, aligning with the authorities' establishment date.
The changes are made under the authority of section 3(5)(b) of the 2014 Act.