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| Alison McGovern | Kate Green | Gareth Thomas | Diana Johnson | Christine Jardine | Chris Stephens |
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| Schedule 8, page 103, line 41, at end insert— |
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| | “21A | After section 461 (counter-acting effect of avoidance arrangements) insert— |
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| | (1) | Within six months of the passing of the Finance Act 2018, the Chancellor of the |
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| | Exchequer shall undertake a review of the effects of amending the operation of |
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| | this Part in relation to the excess profits of PFI companies. |
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| | (2) | For the purposes of the review under this section, it shall be assumed that the |
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| | operation of this Part would be amended so as to— |
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| | (a) | deduct the uncompensated excess profit amount of PFI companies from |
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| | the aggregate of the interest allowances of the group for periods before |
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| | the current period so far as they are available in the current period for the |
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| | purposes of calculating the interest capacity of a worldwide group under |
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| | section 392 (the interest capacity of a worldwide group for a period of |
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| | (b) | provide that, for groups that contain a PFI company, the uncompensated |
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| | excess profit amount for a period is equal to the group excess profit |
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| | amount less the aggregate amount by which the group’s taxable profit has |
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| | been reduced in prior periods as a result of such provisions, |
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| | (c) | provide that the group excess profit amount for any period will be the |
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| | aggregate PFI excess profit amount for each PFI company in the group, |
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| | (d) | provide that the PFI excess profit amount for a PFI company for a period |
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| | will be the amount by which the internal rate of return on shares and |
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| | related party debt in that company (from inception to the end of the |
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| | previous accounting period) exceeds the internal rate of return set in the |
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| | relevant PFI contract or, if no such return was specified, 10%. |
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| | (3) | For the purposes of this section, “a PFI company” means a company which has |
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| | entered into a contract with a public sector body under the Private Finance |
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| | Initiative or the PF2 initiative. |
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| | (4) | The Chancellor of the Exchequer shall lay a report of the review under this section |
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| | before the House of Commons as soon as practicable after its completion.” |
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| | Member’s explanatory statement
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| | This amendment requires a review about the effects of making provision to discount the excess |
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| | profits of a PFI company for the purpose of calculating the aggregate of the interest allowance of |
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| | worldwide groups in the provisions of Part 10 of the Taxation (International and Other Provisions) |
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| Schedule 8, page 105, line 17, at end insert— |
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| | “26A | The amendments made by paragraph 21A have effect from the day on this Act |
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| | Member’s explanatory statement
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| | This amendment is consequential on Amendment 3. |
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| New Clauses, new Schedules and amendments relating to stamp duty land |
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| tax; remaining new Clauses, new Schedules and amendments to Clauses |
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| and Schedules; remaining proceedings on Consideration |
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| New Clauses, new Schedules and amendments relating to stamp duty land |
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| | To move the following Clause— |
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| | | “Review of relief for first-time buyers |
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| | (1) | The Commissioners of Her Majesty’s Revenue and Customs shall undertake a |
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| | review of the impact of the relief for first-time buyers introduced in Schedule |
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| | (2) | The review shall consider, in particular, the effects of the relief on— |
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| | (c) | the supply of housing. |
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| | (3) | The Chancellor of the Exchequer must lay a copy of a report of the review under |
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| | this section before the House of Commons no later than one calendar week prior |
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| | to the date which he has set for his Autumn 2018 Budget Statement.” |
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| | Member’s explanatory statement
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| | This new clause requires a review to be published prior to the Autumn 2018 Budget on the impact |
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| | of the relief for first-time buyers, including its effects on house prices and on the supply of housing. |
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| | To move the following Clause— |
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| | | “Annual report on relief for first-time buyers |
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| | (1) | The Chancellor of the Exchequer must prepare and lay before the House of |
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| | Commons a report for each relevant period on the operation of the relief for first- |
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| | time buyers introduced in Schedule 6ZA to FA 2003 not less than three months |
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| | after the end of the relevant period. |
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| | (2) | The report shall include, in particular, information in respect of the relevant |
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| | (a) | the number of first-time buyers benefiting from the relief, |
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| | (b) | the number of purchases benefiting from the relief, |
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| | (c) | the average age of first-time buyers benefiting from the relief, |
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| | (d) | the effects on the operation of the private rented sector, |
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| | (e) | the effects on council housing and other social housing, |
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| | (f) | the effects on the supply of affordable housing, and |
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| | (g) | the effects on the operation of collective investment schemes under Part |
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| | 17 of the Financial Services and Markets Act 2000. |
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| | (3) | For the purposes of this section, “relevant period” means— |
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| | (a) | the period from 22 November 2017 to 5 April 2018, |
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| | (b) | each period of 12 months beginning on 6 April during which the relief is |
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| | (c) | the period beginning on 6 April and ending with the day on which the |
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| | relief ceases to have effect.” |
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| | Member’s explanatory statement
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| | This new clause requires an annual report on the operation of the relief for first-time buyers, |
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| | including information on the beneficiaries and effects on different aspects of housing supply. |
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| remaining new Clauses, new Schedules and amendments to Clauses and |
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| Mr Virenda Sharma | Mr Alister Jack | Steve Double | Kate Hoey | Richard Drax | Craig Mackinlay | Gavin Robinson | Stephen Lloyd | Mr Bernard Jenkin | Mr John Whittingdale |
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| | To move the following Clause— |
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| | | “Gifts to referendum campaigns |
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| | (1) | Section 24 of IHTA 1984 (gifts to political parties) is amended as follows. |
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| | (2) | In subsection (1), after paragraph (a), insert— |
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| | “(b) | are attributable to property which becomes the property of a referendum |
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| | campaign qualifying for exemption under this section.” |
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| | (3) | After subsection (2), insert— |
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| | “(2A) | A referendum campaign qualifies under this section if it was designated |
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| | by the Electoral Commission as a permitted participant in a referendum |
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| | (a) | Part 7 of the Political Parties, Elections and Referendums Act |
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| | (b) | paragraph 2 of Schedule 4 to the Scottish Independence |
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| | (c) | Part 7 of the Act Political Parties, Elections and Referendums |
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| | Act 2000 as modified in its application by Schedule 1 to the |
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| | European Union Referendum Act 2015.” |
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| | (4) | The changes made by subsections (2) and (3) are to be regarded as always having |
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| | Member’s explanatory statement
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| | This new clause extends the exemption from inheritance tax for gifts to political parties to gifts to |
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| | referendum campaigns operating under the framework of the Political Parties, Elections and |
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| | Referendums Act 2000 (including the AV referendum) or the provisions of that referendum as |
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| | modified (including for the Scottish independence referendum and for the EU referendum). |
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| | To move the following Clause— |
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| | | “Review of income tax revenue |
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| | (1) | The Office for Budget Responsibility must review the revenue raised by the rates |
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| | of income tax within six months of the passing of this Act. |
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| | (2) | A review under this section must consider revenue raised by the rates of income |
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| | tax specified in sections 3 and 4. |
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| | (3) | A review under this section must also consider the effect on revenue of raising |
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| | each of the rates of income tax specified in sections 3 and 4 by one percentage |
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| | (4) | The Chancellor of the Exchequer must lay before the House of Commons the |
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| | report of the review under this section as soon as practicable after its completion.” |
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| | Member’s explanatory statement
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| | This new clause provides for a review of the revenue raised at the rates of income tax specified by |
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| | Clauses 3 and 4 of the Bill and the effect on revenue of raising each of those rates by one |
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| Patrick Grady | Stewart Hosie | Neil Gray | Hannah Bardell | Mhairi Black | Alan Brown | Dr Lisa Cameron | Douglas Chapman | Ronnie Cowan | Angela Crawley | Martyn Day | Martin Docherty-Hughes | Marion Fellows | Stephen Gethins | Patricia Gibson | Peter Grant | Drew Hendry | Chris Law | David Linden | Angus Brendan MacNeil | Stewart Malcolm McDonald | Stuart C. McDonald | John McNally | Carol Monaghan | Gavin Newlands | Brendan O‘Hara | Tommy Sheppard | Chris Stephens | Dr Philippa Whitford | Pete Wishart |
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| To move the following Clause— |
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| | | “Review of retrospective VAT refunds for the Scottish Fire and Rescue |
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| | Service and the Scottish Police Authority |
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| | (1) | Within one month of this Act receiving Royal Assent, the Chancellor of the |
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| | Exchequer shall commission a review of the potential consequences of allowing |
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| | the Scottish Fire and Rescue Service and the Scottish Police Authority to claim |
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| | VAT refunds under section 33 of VATA 1994 retrospective to the date of their |
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| | (2) | The review shall consider— |
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| | (a) | the administrative consequences of allowing retrospective claims, and |
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| | (b) | the impact on revenue of allowing retrospective claims. |
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| | (3) | The Chancellor of the Exchequer shall lay the report of this review before the |
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| | House of Commons within six months of this Act receiving Royal Assent.” |
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| | Member’s explanatory statement
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| | This new clause would require the Chancellor of the Exchequer to commission a review into what |
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| | the potential consequences of allowing the Scottish Fire and Rescue Service and the Scottish |
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| | Police Authority to make retrospective claims for VAT refunds would be. |
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| To move the following Clause— |
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| | | “Analysis of effect of income tax rates on incentives into employment |
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| | (1) | The Office for Budget Responsibility must review the impact of the rates of |
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| | income tax specified in sections 3 and 4 in accordance with this section within six |
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| | months of the passing of this Act. |
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| | (2) | A review under this section must consider the impact of the rates of income tax |
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| | specified in sections 3 and 4 on the incentives for individuals to seek |
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| | (a) | whether those rates create, or detract from, an incentive for those not |
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| | employed to enter into employment, |
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| | (b) | whether those rates create, or detract from, an incentive for those |
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| | currently in employment entering into new employment at a different |
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| | (c) | to what degree those rates create, or detract from, any such incentive. |
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| | (3) | A review under this section must also consider those rates in the context of— |
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| | (a) | National Insurance contributions, |
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| | (c) | social security benefits. |
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| | (4) | A review under this section must give separate analyses in relation to the impact |
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| | of the rates of income tax specified in sections 3 and 4 in different parts of the |
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| | “parts of the United Kingdom” means— |
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| | (6) | The Chancellor of the Exchequer must lay before the House of Commons the |
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| | report of the review under this section as soon as practicable after its completion.” |
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| The Chancellor of the Exchequer |
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| Clause 9, page 4, line 30, leave out from beginning to end of line 32 and insert “it |
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| does not meet the Euro 6d emissions standard.” |
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| The Chancellor of the Exchequer |
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| Clause 9, page 4, line 38, leave out from “(2A)” to end of line 6 on page 5 and |
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| | “ | A vehicle meets the Euro 6d emissions standard only if it is first registered on the |
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| | basis of an EC certificate of conformity which indicates that the exhaust emission |
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| | level is Euro 6d (and it does not meet that standard if it is first registered on the |
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| | basis of an EC certificate of conformity which indicates that that level is Euro 6d- |
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| The Chancellor of the Exchequer |
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| Clause 44, page 38, line 17, leave out from beginning to end of line 28 and insert |
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| “it does not meet the Euro 6d emissions standard. |
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| | (5) | A vehicle meets the Euro 6d emissions standard only if it is first registered on |
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| | the basis of an EU certificate of conformity which indicates that the exhaust |
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| | emission level is Euro 6d (and it does not meet that standard if it is first |
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| | registered on the basis of an EU certificate of conformity which indicates that |
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| | that level is Euro 6d-TEMP).” |
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| Clause 44, page 38, line 30, at end insert— |
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| | “(4A) | In paragraph 1GE (higher rates of duty) after paragraph (3)(c) insert— |
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| | “(d) | the vehicle is not a taxi. |
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| | (3A) | For the purposes of this paragraph, “taxi” has the same meaning as in |
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| | section 64 of the Transport Act 1980.”” |
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| Clause 44, page 39, line 1, after “section”, insert “(other than those made by |
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| Clause 44, page 39, line 2, at end insert— |
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| | “(8) | The amendments made by subsection (4A) have effect in relation to licences |
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| | taken out on or after the day on which this Act is passed.” |
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| Schedule 3, page 65, line 32, leave out from “and” to “or” in line 36 and insert |
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| “each of the conditions in subsection (1A) is met” |
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| | Member’s explanatory statement
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| | This amendment, together with Amendment 14, provides that a pension scheme cannot be de- |
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| | registered on grounds of the dormancy of a single company within the scheme, but only if |
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| | conditions are met in relation to the date of first registration and the trading status of participating |
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