delete The Finance Act 1995 (Contractual Savings Schemes) (Appointed Day) Order 1995
A simple commencement order appointing 31st July 1995 as the day for paragraph 4(3) of Schedule 12 to the Finance Act 1995 (concerning contractual savings schemes) to come into force. It is purely procedural, setting a specific date for related provisions to take effect.
This Order is entirely spent — it merely appointed a single past date (31st July 1995) for provisions to commence. The underlying Schedule 12 relating to contractual savings schemes has long since been superseded by later legislation including the Individual Savings Accounts Regulations. There is nothing left for this instrument to do; it is a historical artifact with no current legal effect. Additionally, contractual savings schemes with tax-preferred status represent government distortion of the savings market through fiscal intervention, creating unequal treatment of different savings vehicles rather than allowing free competition.