Amendments proposed to the Finance Bill - continued	House of Commons
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Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

199

Schedule     14,     page     325,     leave out lines 28 to 31 and insert 'becoming a dependent subsidiary within the meaning of section 86 of the Finance Act 1988'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

216

Schedule      14,     page     325,     line     32,     leave out 'ceasing to meet' and insert 'not meeting for a period of more than six months'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

217

Schedule      14,     page     325,     leave out lines 43 to 45.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

221

Schedule     14,     page     325,     leave out lines 46 and 47.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

193

Schedule      14,     page     325,     line     50,     leave out '100,000' and insert '250,000'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

218

Schedule     14,     page     326,     leave out from line 29 to line 7 on page 327.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

222

Schedule     14,     page     327,     leave out lines 8 to 25.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

224

Schedule     14,     page     328,     line     28,     leave out '40 days' and insert 'six months'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

225

Schedule     14,     page     329,     line     29,     leave out '40 days' and insert 'six months'.

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Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

227

Schedule     15,     page     335,     line     26,     at end insert—

    '2A. A company ("the new shareholder") may be an investing company, and shares ("the sale shares") acquired by it may be relevant shares in relation to it, where the new shareholder purchases those shares from another company ("the old shareholder") and

(a) immediately prior to that purchase the old shareholder was an investing company in relation to the sale shares;

(b) the purchase takes place during the period of restriction which relates to the sale shares; and

(c) the purchase has the consent of the company which, immediately prior to the purchase, was the issuing company in relation to the sale shares;

    for the purposes of this Schedule the new shareholder shall be deemed to have subscribed for the sale shares, and the sale shares shall be deemed to have been issued, on the date that the new shareholder purchased them; and nothing in this paragraph shall prevent the withdrawal of any relief granted to the old shareholder under any other provision of this Schedule.'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

228

Schedule     15,     page     336,     line     31,     leave out '30%' and insert '50%'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

229

Schedule     15,     page     338,     line     39,     after 'wholly', insert 'or mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

230

Schedule     15,     page     338,     line     46,     after 'wholly', insert 'or mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

231

Schedule     15,     page     339,     line     20,     leave out 'as to a substantial part' and insert 'mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

232

Schedule     15,     page     339,     line     32,     leave out 'as to a substantial part' and insert 'mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

233

Schedule     15,     page     340,     line     31,     after 'sub-paragraph (3)' insert 'and sub-paragraph (3a) below'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

234

Schedule     15,     page     340,     line     43,     at end insert—

    '(3A) The unquoted status requirement is not treated as not being met if at the time that the relevant shares are issued there is an intention or aspiration for any of the issuing company's shares, debentures or other securities listed or dealt in as mentioned in paragraph (a), (b) or (c) of sub-paragraph (1) but this intention or aspiration has not been formed into a definite plan or arrangements which would involve such listing or dealing taking place before the expiry of the qualification period in relation to the relevant shares in question.'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

235

Schedule     15,     page     341,     leave out lines 11 to 14 and insert 'a dependent subsidiary within the meaning of section 86 of the Finance Act 1988'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

236

Schedule     15,     page     341,     line     29,     leave out 'an individual' and insert 'a person not connected with (within the meaning of section 839 of the Taxes Act 1988) or'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

237

Schedule     15,     page     341,     line     37,     at end insert—

    '(2A) A person shall not be excluded from being an independent individual by sub-paragraph (2) above if they are a trustee of a settlement within section 86 of the Inheritance Tax Act 1984.'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

238

Schedule     15,     page     342,     line     31,     leave out 'it has a subsidiary which is not a qualifying subsidiary' and insert 'one fourth by number of its subsidiaries are not qualifying subsidiaries'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

239

Schedule     15,     page     343,     line     6,     after '1988', insert '(but not including any person who has control of the issuing company in circumstances where shares in that company remain eligible for relief pursuant to this Schedule)'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

240

Schedule     15,     page     343,     line     35,     leave out '15' and insert '30'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

241

Schedule     15,     page     343,     line     37,     leave out '16' and insert '32'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

242

Schedule     15,     page     343,     line     40,     leave out '15' and insert '30'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

243

Schedule     15,     page     343,     line     42,     leave out '16' and insert '32'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

244

Schedule     15,     page     344,     line     3,     after 'wholly', insert 'or mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

245

Schedule     15,     page     344,     line     5,     after 'trade', insert 'or trades'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

250

Schedule     15,     page     344,     line     6,     leave out from 'that' to 'at' in line 9.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

246

Schedule     15,     page     344,     line     7,     leave out 'as to a substantial part' and insert 'mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

247

Schedule     15,     page     344,     line     10,     after 'wholly', insert 'or mainly'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

248

Schedule     15,     page     344,     line     12,     after 'trade', insert 'or trades'.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

249

Schedule     15,     page     344,     line     15,     leave out 'business' and insert 'or more businesses'

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

251

Schedule     15,     page     344,     leave out lines 42 to 50.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

253

Schedule     15,     page     345,     leave out lines 44 and 45.

   

Mr David Heathcoat-Amory [R]
Mr Richard Ottaway
Mr Howard Flight [R]

252

Schedule     15,     page     346,     leave out from line 4 to line 36 on page 349 and insert—

'(a) advertising and marketing;

(b) public relations;

(c) the conduct of surveys or polls as to the opinions of members of the public (or any section of them) on any subject (whether by interview in person or by telephone or through the medium of a group discussion focussed upon any particular subject);

(d) estate agency;

(e) the manufacture or retail distribution of tourist souvenirs relating to the Millennium Dome in Greenwich;

(f) consultancy as to the arrangement of objects or artefacts within any living space (where based upon the principles of any non-European philosophy);

(g) fashion modelling (the provision of individuals engaged wholly or mainly for the purpose of displaying, whether or not to the public, items of clothing):

(h) the publication of newspapers (including magazines or other periodicals, but not journals of a technical or scientific nature);

(i) the transmission of television programmes'.

Prepared 6 Jun 2000