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| | Elections under section 9A of CTA 2010 |
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| | 49B(1) | This paragraph applies if— |
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| | (a) | during a company’s accounting period within the meaning of Chapter |
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| | 4 of Part 17 of ICTA a notice is given in relation to the company under |
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| | paragraph 4(2C) of Schedule 24 to ICTA, |
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| | (b) | as a result of that, the company is to be assumed under paragraph |
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| | 4(2C) of Schedule 24 to ICTA to have made an election under section |
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| | (c) | the assumed election— |
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| | (i) | does not cease to have effect before the end of the company’s |
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| | last accounting period within the meaning of Chapter 4 of Part |
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| | 17 of ICTA to begin before 1 January 2013, and |
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| | (ii) | apart from the repeal of that Chapter by paragraph 14 above, |
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| | would not have ceased to have effect at the end of that period, |
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| | (d) | the company is a CFC immediately after the end of its last accounting |
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| | period mentioned in paragraph (c) and its first accounting period |
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| | within the meaning of Part 9A of TIOPA 2010 begins at that time |
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| | (2) | In the application of Part 9A of TIOPA 2010 in relation to the company as a |
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| | CFC, the assumption mentioned in sub-paragraph (1)(b) is to continue to be |
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| | made as if it were required to be made by section 371SH(2) of TIOPA 2010.’. |
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| Schedule 20, page 522, line 10, leave out from ‘exempt’ to end of line 12 and insert |
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| | (i) | does not end before the end of the company’s last accounting |
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| | period within the meaning of Chapter 4 of Part 17 of ICTA to |
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| | begin before 1 January 2013, and |
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| | (ii) | apart from the repeal of that Chapter by paragraph 14 above, |
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| | would not have ended at the end of that period, and’. |
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| Schedule 20, page 522, line 29, after ‘exemption’ insert ‘or section 371JE of |
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| Clause 186, page 107, line 9, at end insert— |
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| | ‘(3A) | The Chancellor of the Exchequer shall review the wider economic impact of the |
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| | duty increases imposed by subsection 3 on the beer and pub industry, and |
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| | consumers, and shall lay a report of his review in the House of Commons |
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| Schedule 24, page 542, line 11, leave out ‘20%’ and insert ‘15%’. |
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| Schedule 24, page 542, line 34, at end insert— |
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| | ‘Allowable deductions from duty payable |
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| | 11A(1) | A taxable person shall be entitled to reduce the amount of duty payable in an |
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| | accounting period by an amount equal to the irrecoverable VAT brought about |
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| | solely as a result of changes to the VAT liability of income from Machine |
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| | Games resulting from the introduction of the duty (“Newly Irrecoverable |
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| | VAT”), to be calculated as follows: |
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| | (2) | “Newly Irrecoverable VAT” for the purposes of sub-paragraph (1) will be |
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| | (a) | at the time the taxable person carries out the “longer period |
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| | adjustment” calculations and capital goods scheme adjustments for the |
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| | purposes of Part 14 to 16 of the VAT Regulations 1995, he shall, in |
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| | accordance with the method in place under those Parts, for that longer |
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| | (i) | the amount of irrecoverable VAT incurred during that longer |
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| | period based on income from Machine Games being exempt |
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| | (ii) | the amount of irrecoverable VAT that would be incurred had |
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| | income from Machine Games remained liable to VAT at the |
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| | (b) | Newly Irrecoverable VAT will be calculated by subtracting the |
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| | amount under (ii) above from (i) above. |
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| | (3) | On each duty return in the year following the VAT longer period adjustment, |
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| | a taxable person shall be entitled to provisionally reduce the amount of duty |
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| | payable by an amount equal to one quarter of the amount calculated under sub- |
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| | (4) | At the end of the year in which provisional quarterly reductions have been |
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| | carried out under sub-paragraph (3) above, a taxable person shall carry out the |
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| | calculation under sub-paragraph (2) above and compare it to the total provision |
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| | reduction for the year. Any difference shall serve to increase, or decrease, the |
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| | duty due in the accounting period in which the calculation is made. |
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| | (5) | Should the reduction of the amount of duty payable arising from Newly |
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| | Irrecoverable VAT result in a negative amount of duty in any accounting |
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| | period the provisions of paragraph (10) (negative amounts of duty) shall apply. |
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| | (6) | For the purposes of this paragraph, any references to terms imported from Part |
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| | 14 to 16 of the VAT Regulations 1995 shall have the same meaning as defined |
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| Schedule 24, page 557, line 16, at end insert— |
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| | ‘49A | In the Machine Games Duty (Exemptions) Order 2012, after Article 5, insert |
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| | “Skill with prize machines |
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| | 6.1 | Playing a skill with prize game is to be a specified circumstance. |
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| | 6.2 | A game shall be a skill with prize game if it is not a game of chance |
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| | in accordance with Section 6(2) of the Gambling Act 2005.”’. |
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| Clause 195, page 112, line 25, at end add— |
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| | ‘(2) | No new Order shall be made under section 30(4) or 31(2) of the Value Added Tax |
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| | Act 1994 unless the Chancellor of the Exchequer has reviewed the full impact of |
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| | those changes on jobs, living standards and businesses, and placed the review in |
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| | the Library of the House of Commons.’. |
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| Schedule 31, page 605, line 2, after ‘April’, leave out ‘2013’ and insert ‘2017’. |
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| Schedule 31, page 605, line 4, after ‘April’, leave out ‘2013’ and insert ‘2017’. |
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| Schedule 31, page 605, line 4, at end add— |
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| | ‘(4) | The Chancellor of the Exchequer shall conduct a review of the expected impact |
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| | on carbon emissions, security of supply and industrial competiveness of the |
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| | removal, in 2017, from combined heat and power plants of the Climate Change |
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| | Levy exemption for indirect supplies of electricity and shall, by 31 December |
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| | 2012, lay a report of his review in the House of Commons Library.’. |
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| To move the following Clause:— |
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| | ‘(1) | BGDA 1981 is amended as follows. |
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| | (2) | In section 17(1)(b) of BGDA 1981 (bingo duty chargeable at 20 per cent of bingo |
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| | promotion profits), for “20” substitute “15”. |
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| | (3) | The amendment made by subsection (2) has effect in relation to accounting |
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| | periods beginning on or after 30 April 2012.’. |
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| | Levy on obligated energy suppliers |
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| To move the following Clause:— |
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| | ‘The Treasury shall prepare a report on the introduction of a levy on the profits of |
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| | obligated energy suppliers, with money raised to be put towards a country-wide |
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| | domestic energy efficiency programme prioritising those in fuel poverty, and |
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| | report to Parliament with proposals within three months of Royal Assent to this |
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| | Fuel duty differential for biodiesel |
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| To move the following Clause:— |
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| | ‘(1) | The Biodiesel Duty (Biodiesel produced from waste cooking oil) (Relief) |
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| | Regulations 2010 (S.I. 2010/984) shall be deemed not to have ceased to have |
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| | effect on 31 March 2012 and shall continue in force. |
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| | (2) | No further Regulations may be made under the Hydrocarbon Oil Duties Act 1979 |
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| | which would have the effect of removing or reducing the relief provided for by |
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| | the Regulations mentioned in subsection (1) until a full impact assessment of the |
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| | impact of the removal of a fuel duty differential for biodiesel has been laid before |
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| | Order of the House [16 April 2012] |
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| | That the following provisions shall apply to the Finance (No. 4) Bill: |
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| | 1. | The following shall be committed to a Committee of the whole House— |
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| | (a) | Clauses 1, 4, 8, 189 and 209; |
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| | (b) | Schedules 1, 23 and 33; |
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| | (c) | any new Clauses and any new Schedules, first appearing on the Order |
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| | Paper not later than Tuesday 17 April 2012 and relating to value |
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| | 2. | The remainder of the Bill shall be committed to a Public Bill Committee. |
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| | 3. (1) | Proceedings in Committee of the whole House shall be completed in |
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| | (2) | Those proceedings shall be taken on each of those days as shown in |
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| | the first column of the following table and in the order so shown. |
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| | (3) | Each part of the proceedings shall (so far as not previously |
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| | concluded) be brought to a conclusion at the time specified in |
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| | relation to it in the second column of the Table. |
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| | (4) | Standing Order No. 83B (Programming committees) shall not apply |
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| | to proceedings in Committee of the whole House. |
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| | Time for conclusion of proceedings |
| | | | | | | | | Three hours after the commencement |
| | | | | of proceedings on the Bill. |
| | | | Clause 209 and Schedule 33 |
| Five hours after the commencement |
| | | | | of proceedings on the Bill. |
| | | | | | | | | Schedules first appearing on |
| commencement of proceedings on |
| | | | the Order paper not later than |
| | | | | Tuesday 17 April 2012 and |
| | | | | relating to value added tax. |
| | | | | Clause 189 and Schedule 23 |
| Eight and a quarter hours after the |
| | | | | commencement of proceedings on |
| | | | | | | | | | | | | | | Three hours after the commencement |
| | | | | of proceedings on the Bill. |
| | | | | At 6.00 pm on the second day. |
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| | 4. (1) | Proceedings in the Public Bill Committee shall (so far as not |
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| | previously concluded) be brought to a conclusion on Tuesday 26 |
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| | (2) | The Public Bill Committee shall have leave to sit twice on the first |
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| | 5. | When the provisions of the Bill considered, respectively, by the Committee |
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| | of the whole House and by the Public Bill Committee have been reported to |
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| | the House, the Bill shall be proceeded with as if it had been reported as a |
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| | whole to the House from the Public Bill Committee. |
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| | Consideration and Third Reading |
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| | 6. | Proceedings on Consideration and on Third Reading shall be completed in |
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| | 7. | Standing Order No. 83B (Programming committees) shall not apply to |
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| | proceedings on Consideration and Third Reading. |
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| | Order of the Committee [24 APRIL 2012] |
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| | (1) | the Committee shall (in addition to its first meeting at 10.30 am on Tuesday |
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| | (a) | at 4.30 pm on Tuesday 24 April; |
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| | (b) | at 9.00 am and 1.00 pm on Thursday 26 April; |
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| | (c) | at 10.30 am and 4.30 pm on Tuesday 22 May; |
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| | (d) | at 9.00 am and 1.00 pm on Thursday 24 May; |
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| | (e) | at 10.30 am and 4.30 pm on Tuesday 12 June; |
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| | (f) | at 9.00 am and 1.00 pm on Thursday 14 June; |
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| | (g) | at 10.30 am and 4.30 pm on Tuesday 19 June; |
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| | (h) | at 9.00 am and 1.00 pm on Thursday 21 June; |
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| | (i) | at 10.30 am and 4.30 pm on Tuesday 26 June; |
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| | (2) | proceedings on consideration of the Bill in Committee shall be taken in the |
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| | following order: Clauses 2 and 3; Clauses 5 to 7; Clauses 9 to 19; Schedule |
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| | 2; Clause 20; Schedule 3; Clause 21; Schedule 4; Clauses 22 to 31; Schedule |
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| | 5; Clauses 32 to 36; Clause 215; Clauses 37 and 38; Schedule 6; Clause 39; |
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| | Schedule 7; Clause 40; Schedule 8; Clauses 41 and 42; Schedule 9; Clause |
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| | 43; Schedule 10; Clause 44; Schedule 11; Clauses 45 to 47; Schedule 12; |
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| | Clause 48; Schedule 13; Clause 49; Schedule 14; Clauses 50 and 51; |
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| | Schedule 15; Clauses 52 to 146; Schedule 16; Clause 147; Schedule 17; |
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| | Clauses 148 to 176; Schedule 18; Clause 177; Schedule 19; Clauses 178 to |
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| | 180; Schedule 20; Clauses 181 to 183; Schedule 21; Clause 184; Schedule 22; |
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| | Clauses 185 to 188; Clause 190; Schedule 24; Clauses 191 to 193; Schedule |
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| | 25; Clauses 194 and 195; Schedule 26; Clauses 196 to 201; Schedule 27; |
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| | Clause 202; Schedule 28; Clauses 203 to 205; Schedules 29 to 31; Clauses |
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| | 206 and 207; Schedule 32; Clause 208; Clauses 210 to 212; Schedule 34; |
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| | Clauses 213 and 214; Clause 216; Schedule 35; Clauses 217 and 218; |
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| | Schedule 36; Clauses 219 to 221; Schedule 37; Clauses 222 to 225; Schedule |
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| | 38; Clauses 226 and 227; new Clauses other than those first appearing on the |
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| | Order Paper not later than Tuesday 17 April and relating to value added tax; |
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