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

298

Clause     66,     page     46,     leave out lines 33 to 36 and insert—

'(a) none of whose ordinary shares is listed on a recognised stock exchange, nor

(b) which is a 51 per cent. subsidiary of a company any of whose ordinary shares are so listed.

    Ordinary shares means shares other than those entitling the holders thereof to a dividend at a fixed rate but no other right to share in the profits of the company.'.

   

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

285

Clause     66,     page     46,     line     33,     after 'whose', insert 'ordinary'.

   

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

286

Clause     66,     page     46,     line     36,     after 'whose', insert 'ordinary'.

   

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

282

Clause     66,     page     46,     line     36,     at end insert—

'"trading company" means a company which would not be an investment company within the meaning of section 130 of the Taxes Act 1988;

"trading group" means a group of companies all the members of which are trading companies; and'.

   

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

283

Clause     66,     page     46,     line     38,     after 'employment', insert 'and "trading company" and "trading group" contained in that paragraph immediately prior to the passing of this Act'.

   

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

284

Clause     66,     page     46,     line     40,     after 'asset', insert 'where it was acquired on or after 6 April 1998 and disposed'.

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Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

91

Schedule     19,     page     398,     line     14,     leave out from 'development' to end of line 32 and insert 'has the meaning given in paragraph 21 of Statement of Standard Accounting Practice 13'.

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Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

92

Schedule     20,     page     401,     line     21,     leave out '£25,000' and insert '£24,000'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

93

Schedule     20,     page     401,     line     22,     leave out '£25,000' and insert '£24,000'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

94

Schedule     20,     page     401,     line     40,     after '1996', insert—

    ', subject to sub-paragraph (1A).

    (1A) The definition of a "small or medium-sized enterprise" shall have effect as if, for every reference to an amount in Euros, there were substituted the equivalent amount in sterling, calculated on 21st March 2000.'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

95

Schedule     20,     page     403,     line     12,     leave out from 'means' to end of line 15 and insert—

'(a) additional overheads incurred directly as a result of the research activity, or

(b) other operating expenses, such as costs of materials, supplies and similar products, incurred directly as a result of the research activity.'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

96

Schedule     20,     page     403,     line     34,     after 'project;' insert—

    ', except that, if the circumstances have been notified to and approved by the European Commission, then this sub-paragraph shall have effect as if, for the words "if a notified State aid" there were substituted "to the extent that a notified State aid.".'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

97

Schedule     20,     page     405,     line     11,     leave out '65%.' and insert '100%.'

   

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

107

Schedule     20,     page     406,     line     15,     leave out 'that was or could have been'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

98

Schedule     20,     page     408,     leave out lines 25 to 28 and insert 'the loss that may be surrendered in respect of that period by the company, for the purposes of a claim to group relief under section 402(3) of the Taxes Act 1988 (group relief available where surrendering company owned by a consortium), to any other company that is not a small or medium-sized enterprise shall be limited to the loss which would have been available if the company had not claimed relief under paragraph 13 or 14.'.

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Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

148

Schedule     21,     page     410,     line     28,     leave out '1996' and insert '1998'.

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Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

143

Clause     70,     page     48,     line     1,     leave out 'small enterprise' and insert 'small or medium-sized enterprise'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

144

Clause     70,     page     48,     line     11,     after 'computers', insert ', including components of computers such as memory chips,'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

145

Clause     70,     page     48,     line     18,     at end insert 'or,

(iii) between a computer and a peripheral device,'.

   

Mr Richard Ottaway
Mr David Heathcoat-Amory
Mr Howard Flight

146

Clause     70,     page     48,     line     27,     leave out 'third generation'.

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

299

Schedule     22,     page     414,     line     39,     leave out 'may' and insert 'shall'.

   

Mr Andrew Smith

310

Schedule     22,     page     415,     line     26,     at end insert—

    'This is subject to paragraph 38(2)(a) and (b) (effect in certain cases of exceeding the 75% limit on chartered in tonnage).'.

   

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

300

Schedule     22,     page     416,     line     28,     at end insert—

    '(3) The elements of management activity to be taken into account in determining whether strategic and commercial management is carried out in the UK will include:

(i) managing the bunkers, provisioning and victualling requirements

(ii) route planning

(iii) taking bookings for cargo or passengers

(iv) personnel management (officers)

(v) personnel management (ratings)

(vi) making decisions on the purchase, charter or sale of vessels

(vii) technical management including making decisions on the repair and maintenance of vessels

(viii) whether the vessel is flagged in the UK.'.

   

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

301

Schedule     22,     page     417,     line     39,     after 'tonnage', insert 'which is registered in the United Kingdom and is'.

   

Mr Andrew Smith

311

Schedule     22,     page     418,     line     2,     leave out from 'ships)' to end of line 3.

   

Mr Andrew Smith

312

Schedule     22,     page     418,     line     13,     at end insert—

'( ) dredgers.'.

   

Mr Andrew Smith

313

Schedule     22,     page     418,     line     29,     leave out 'excluding other kinds of vessel' and insert 'amending paragraph 20 so as to add any description of vessel to, or remove any description of vessel from, the kinds of vessel that are excluded'.

   

Mr Andrew Smith

314

Schedule     22,     page     419,     line     2,     leave out 'or under paragraph 21'.

   

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

302

Schedule     22,     page     419,     line     31,     at end insert—

    '(5) For the purpose of the regulations, a company's tonnage shall exclude all ships that satisfy the following conditions:

(a) the ship is chartered-in; and

(b) the ship's owner is a company in the tonnage tax regime.'.

   

Mr Andrew Smith

315

Schedule     22,     page     419,     line     35,     at end insert—

    '(2) A training commitment is not effective for the purposes of this Part of this Schedule unless approved by the Secretary of State.

    (3) Sub-paragraphs (1) and (2) are subject to—

paragraph 27(4) and (5) (power of Secretary of State to set training commitment), and

paragraph 28(1A) (power of Secretary of State to adjust training commitment to take account of changed circumstances).'.

   

Mr Andrew Smith

316

Schedule     22,     page     420,     line     11,     at end insert—

    '(4) The Secretary of State may make provision by regulations enabling him—

(a) to set the training commitment for a company or group if, after such period as may be prescribed, no training commitment has been submitted to and approved by him; and

(b) on the application of the company or group concerned, made after consultation with any prescribed person involved in the training of seafarers, to vary a training commitment set by him.

    (5) A training commitment set by the Secretary of State has effect as if submitted by the company or group and approved by him.'.

Prepared 8 Jun 2000