| Amendments proposed to the Transport Bill - continued | House of Commons |
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Mr Nick Raynsford 249 Schedule 6, page 156, leave out line 34 and insert 'at such times as the transferee may specify in directions given to the transferor'.
Mr Nick Raynsford 250 Schedule 6, page 157, line 27, leave out 'he may direct' and insert 'may be specified in a direction given by him'.
Mr Nick Raynsford 327 *Schedule 6, page 159, line 38, leave out 'by virtue of' and insert 'under'.
Mr Nick Raynsford 328 *Schedule 6, page 159, line 48, leave out 'by virtue of' and insert 'under'.
Mr Nick Raynsford 329 *Schedule 7, page 162, line 32, leave out 'by virtue of' and insert 'under'.
Mr Nick Raynsford 330 *Schedule 7, page 163, line 3, at end insert—'(5) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.
Mr Nick Raynsford 331 *Schedule 7, page 163, line 7, leave out 'makes' and insert 'gives'.
Mr Nick Raynsford 332 *Schedule 7, page 163, line 11, leave out from 'consideration' to 'value' in line 12 and insert '—
Mr Nick Raynsford 333 *Schedule 7, page 163, line 14, at end insert—'(4) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.
Mr Nick Raynsford 334 *Schedule 7, page 163, line 14, at end insert—'3A.—(1) This paragraph applies if—
(2) Sub-paragraph (3) applies if the direction under section 56 requires securities to be issued to one person only or the directions under that section (taken together) require securities to be issued to one person only; and sub-paragraph (4) applies in any other case. (3) For the purposes of the 1992 Act the person to whom the securities are issued is to be treated as acquiring them for a consideration—
(4) For the purposes of the 1992 Act a person to whom any of the securities are issued is to be treated as acquiring them for a consideration—
(5) This paragraph applies whether or not the person to whom the securities are issued, or any person to whom any of the securities are issued, is a person transferring anything under the transfer scheme in connection with which the direction under section 55 is given. (6) Expressions used in this paragraph and in the 1992 Act have the same meanings in this paragraph as in that Act.'.
Mr Nick Raynsford 335 *Schedule 7, page 163, line 22, leave out 'and'.
Mr Nick Raynsford 336 *Schedule 7, page 163, line 23, at end insert 'and
Mr Nick Raynsford 337 *Schedule 7, page 163, line 27, leave out 'meaning' and insert 'meanings'.
Mr Nick Raynsford 338 *Schedule 7, page 163, line 33, leave out '(within the meaning of section 174(1))'.
Mr Nick Raynsford 339 *Schedule 7, page 163, line 33, at end insert—'(2) Expressions used in this paragraph and in section 174(1) of the 1992 Act have the same meanings in this paragraph as in section 174(1).'.
Mr Nick Raynsford 340 *Schedule 7, page 163, line 36, leave out 'acquires an asset from another company at a time when both are' and insert 'acquired an asset from another company at any time when both were'.
Mr Nick Raynsford 341 *Schedule 7, page 164, line 2, leave out 'apply' and insert 'have effect'.
Mr Nick Raynsford 342 *Schedule 7, page 164, line 9, leave out 'both'.
Mr Nick Raynsford 343 *Schedule 7, page 164, line 10, at end insert 'and at the time of acquisition'.
Mr Nick Raynsford 344 *Schedule 7, page 164, line 26, leave out 'apply' and insert 'have effect'.
Mr Nick Raynsford 345 *Schedule 7, page 164, line 31, leave out 'both'.
Mr Nick Raynsford 346 *Schedule 7, page 164, line 32, at end insert 'and at the time of acquisition'.
Mr Nick Raynsford 347 *Schedule 7, page 164, line 37, at end insert—'8A.—(1) Sub-paragraph (4) applies if—
(2) A company falls within this sub-paragraph if immediately before it ceases to be a member of the new group it is a subsidiary of—
(3) The condition is that—
(4) On the degrouped company ceasing to be a member of the new group section 179 of the 1992 Act is to have effect as if the degrouped company and the transferor had been members of the new group at the time of acquisition. (5) But sub-paragraph (4) does not apply if—
(6) Expressions used in this paragraph and in section 179 of the 1992 Act have the same meanings in this paragraph as in that section.'.
Mr Nick Raynsford 348 *Schedule 7, page 164, line 40, leave out paragraphs (a) and (b) and insert—
Mr Nick Raynsford 349 *Schedule 7, page 164, line 46, leave out 'those' and insert 'the Capital Allowances'.
Mr Nick Raynsford 350 *Schedule 7, page 165, line 9, leave out sub-paragraph (3).
Mr Nick Raynsford 351 *Schedule 7, page 166, line 14, leave out from 'of' to end of line 19 and insert 'which the transferor ceases to carry on a trade and the transferee begins to carry it on.'.
Mr Nick Raynsford 352 *Schedule 7, page 166, line 19, at end insert—'(1A) A transferor treated as ceasing to carry on a trade for the purposes of section 343 of the 1988 Act (company reconstructions without a change of ownership) is to be so treated for the purposes of this paragraph. (1B) A transferee treated as beginning to carry on a trade for the purposes of that section is to be so treated for the purposes of this paragraph.'.
Mr Nick Raynsford 353 *Schedule 7, page 166, line 27, leave out from first 'the' to end of line 28 and insert 'transferor is entitled to relief for an amount under section 393(1) in respect of the part retained.'.
Mr Nick Raynsford 354 *Schedule 7, page 167, line 27, at end insert—'(5) This paragraph has effect subject to paragraphs 3, 3A and 15.'.
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| ©Parliamentary copyright 2000 | Prepared 1 Feb 2000 |