Amendments proposed to the Finance Bill - continued House of Commons

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Mr Chancellor of the Exchequer

54

Page     218,     line     49     [Schedule     6],     at end insert—

    '(4) Sub-paragraphs (1) to (3) have effect subject to—

      (a) any direction under paragraph 148A(1), and

      (b) any regulations under paragraph 148A(2).

Person treated as, or as not being, a utility

    148A.—(1) The Commissioners may by direction (a "utility direction") make, in respect of a person (or persons) specified in the direction, provision authorised by sub-paragraph (3).

    (2) The Treasury may by regulations ("utility regulations") make, in respect of any person of a description specified in the regulations, provision authorised by sub-paragraph (3).

    (3) The provision authorised by this sub-paragraph is provision for—

      (a) a person who is an unregulated electricity supplier to be treated for levy purposes as being an electricity utility;

      (b) a person who is an unregulated gas supplier to be treated for levy purposes as being a gas utility;

      (c) a person who is an electricity utility to be treated for levy purposes as not being an electricity utility;

      (d) a person who is a gas utility to be treated for levy purposes as not being a gas utility.

    (4) References in sub-paragraph (3) to provision for a person to be treated in a particular way for "levy purposes" are to provision for him to be treated in that way for—

      (a) the purposes of this Schedule, or

      (b) such of those purposes as are specified in the direction or regulations by which the provision is made.

    (5) The power to make any provision by a utility direction or utility regulations may be exercised so that the provision applies in relation to a person only to an extent specified in, or determined under, the direction or regulations.

    (6) A utility direction cannot take effect until it has been—

      (a) given by the Commissioners to each person in respect of whom it makes provision, and

      (b) published by the Commissioners.

    (7) Paragraph 145(7)(b) and (c) applies to the power to make provision by a utility direction as to a power to make provision by regulations.

    (8) In this paragraph—

      "unregulated electricity supplier" means a person who—

          (a) makes supplies of electricity, and

          (b) is not an electricity utility;

      "unregulated gas supplier" means a person who—

          (a) makes supplies of gas that is in a gaseous state and is of a kind supplied by a gas utility, and

          (b) is not a gas utility.'.


   

Mr Chancellor of the Exchequer

55

Page     219,     line     44     [Schedule     6],     leave out 'in part to the Authority and in part to the Gas and Electricity Consumer Council)' and insert 'to the Authority) or abolished'.


   

Mr Chancellor of the Exchequer

56

Page     220,     line     2     [Schedule     6],     leave out 'in part to the Authority and in part to the Gas and Electricity Consumer Council)' and insert 'to the Authority) or abolished'.


   

Mr Chancellor of the Exchequer

57

Page     240,     line     12     [Schedule     8],     leave out from 'must' to end of line 13 and insert 'form part of the ordinary share capital of—'.

   

Mr Chancellor of the Exchequer

10

Page     240,     line     34     [Schedule     8],     leave out 'workers''.

   

Mr Chancellor of the Exchequer

11

Page     240,     line     35     [Schedule     8],     at end insert—

    '( ) In sub-paragraph (4) "co-operative" means a registered industrial and provident society which is a co-operative society.

    For this purpose—

      "registered industrial and provident society" means a society registered or deemed to be registered under the Industrial and Provident Societies Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969; and

      "co-operative society" has the same meaning as in section 1 of the 1965 Act or, as the case may be, the 1969 Act.'.


   

Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Howard Flight

135

Page     248,     line     28     [Schedule     8],     at end insert 'Where an employer pays on behalf of an employee any Class 1 national insurance contributions which would have been due from the employee but for the deduction of partnership share money then that payment shall not be an emolument or benefit chargeable to tax under Schedule E.'.


   

Mr David Heathcoat-Amory
Mr Richard Ottaway
Mr Howard Flight

134

Page     249,     line     12     [Schedule     8],     at end insert—

    '( ) Where there is a charge to income tax under this paragraph as a result of partnership shares ceasing to be subject to the plan, the amount of earnings which the employee is deemed to receive for the purpose of determining any liability for secondary Class 1 national insurance contributions will be equal to the amount of partnership share money used to purchase the partnership shares in question.'.


   

Mr Chancellor of the Exchequer

12

Page     264,     line     36     [Schedule     8],     leave out paragraph 128.


   

Mr Chancellor of the Exchequer

13

Page     267     [Schedule     8],     leave out line 23.


   

Mr Chancellor of the Exchequer

83

Page     293,     line     28     [Schedule     13],     after 'section', insert ', and the provisions of section 632B below,'.


   

Mr Chancellor of the Exchequer

84

Page     294,     line     10     [Schedule     13],     at end insert—

'Eligibility to make contributions: concurrent membership.632B.—(1) A member who would not, apart from this section, be eligible to make contributions during a year of assessment shall be eligible to make contributions at any time during that year if—

      (a) throughout the year he holds an office or employment to which section 645 applies;

      (b) the condition in any of subsections (6) to (9) of section 632A is satisfied in his case as respects the year;

      (c) he is not, and has not been, a controlling director of a company at any time in the year or in any of the five years of assessment preceding it;

      (d) for at least one of the five years of assessment preceding the year, the aggregate of his grossed-up remuneration from each office and each employment held on 5th April in that preceding year does not exceed the remuneration limit for the relevant year; and

      (e) the total relevant contributions made in the year do not exceed the earnings threshold for the year.

    (2) For the purposes of paragraphs (c) and (d) of subsection (1) above, no account shall be taken of any year of assessment earlier than the year 2000-01.

    (3) For the purposes of paragraph (c) of subsection (1) above, a person is a controlling director of a company at any time if at that time—

      (a) he is a director, as defined by section 612(1); and

      (b) he is within paragraph (b) of section 417(5) in relation to the company.

    (4) For the purposes of paragraph (d) of subsection (1) above—

      (a) "grossed up", in relation to a person's remuneration from an office or employment, means increased by being multiplied by a figure determined in accordance with an order made by the Treasury (or left unchanged, if that figure is unity);

      (b) "remuneration" shall be construed in accordance with an order made by the Treasury;

      (c) "the remuneration limit" for any year of assessment is £30,000;

      (d) "the relevant year" means the year of assessment first mentioned in subsection (1) above.

    The Treasury may by order amend the definition of "the remuneration limit" in paragraph (c) above for any year of assessment by varying the amount there specified.

    (5) For the purposes of paragraph (e) of subsection (1) above and the following provisions of this section, "the total relevant contributions", in the case of a year of assessment, means the aggregate amount of the contributions made in the year—

      (a) by the member in question, and

      (b) by any employer of his,

    under arrangements made by the member under the scheme in question, together with the aggregate amounts of such contributions under other approved personal pension arrangements made by that member.

    (6) If—

      (a) in the case of a member, the total relevant contributions in a year of assessment, apart from this subsection, exceed the earnings threshold for the year, and

      (b) but for that, the member would be eligible to make contributions by virtue of subsection (1) above at any time in that year,

    the repayment required by subsection (2) of section 632A is repayment of the relevant excess contributions only (so that the condition in subsection (1)(e) above becomes satisfied).

    (7) In subsection (6) above "the relevant excess contributions" means—

      (a) to the extent that a contribution is the first which caused the total relevant contributions in the year to exceed the earnings threshold for the year, that contribution; and

      (b) all subsequent contributions in the year.

    (8) The Treasury may by order make provision requiring any person who claims to be eligible to make contributions by virtue of this section to provide to—

      (a) the Board,

      (b) an officer of the Board, or

      (c) the scheme administrator of the personal pension scheme concerned,

    such declarations, certificates or other evidence in support of the claim as may be specified or described, or determined in accordance with, the order.

    (9) A person shall only be eligible to make contributions by virtue of this section in a year of assessment if he complies with any requirements imposed by order under subsection (8) above.".'.

 
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