Amendments proposed to the Finance Bill - continued	House of Commons
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Mr Chancellor of the Exchequer

111

Page     97,     line     38     [Clause     122],     leave out 'subsection (2C)' and insert 'this section'.

   

Mr Chancellor of the Exchequer

112

Page     97,     line     40     [Clause     122],     leave out 'on or'.

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Mr Chancellor of the Exchequer

113

Page     98,     line     2     [Clause     123],     at end insert—

    '(1A) After subsection (2) (instruments on which stamp duty not chargeable) insert—

    "(2A) But this section does not apply to an instrument by virtue of subsection (2)(a) if, at the time the instrument is executed, arrangements are in existence by virtue of which at that or some later time any person has or could obtain, or any persons together have or could obtain, control of the transferee but not of the transferor.".'.

   

Mr Chancellor of the Exchequer

114

Page     98     [Clause     123],     leave out lines 12 to 18.

   

Mr Chancellor of the Exchequer

115

Page     98,     line     26     [Clause     123],     at end insert '; but this is subject to subsection (6A).

    (6A) In determining for the purposes of this section whether a body corporate is the parent of the transferor, paragraphs 5(3) and 5B to 5E of Schedule 18 to the Income and Corporation Taxes Act 1988 shall not apply for the purposes of paragraph (b) or (c) of subsection (3AA).'.

   

Mr Chancellor of the Exchequer

116

Page     98,     line     27     [Clause     123],     leave out 'subsection (3AAA)' and insert 'this section'.

   

Mr Chancellor of the Exchequer

117

Page     98,     line     29     [Clause     123],     leave out 'on or'.

   

Mr Chancellor of the Exchequer

118

Page     98,     line     31     [Clause     124],     at end insert—

    '(1A) In subsection (1) (stamp duty not chargeable on leases etc) at the end insert the following paragraph—

    "This subsection is subject to subsection (4A) below."

    (1B) After subsection (4) insert—

    "(4A) An instrument shall not be exempt from stamp duty by virtue of subsection (1) above if at the time the instrument is executed arrangements are in existence by virtue of which at that or some later time any person has or could obtain, or any persons together have or could obtain, control of the lessee but not of the lessor.".'.

   

Mr Chancellor of the Exchequer

119

Page     98,     line     41     [Clause     124],     leave out from beginning to end of line 3 on page 99.

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Mr Chancellor of the Exchequer

120

Page     99,     line     11     [Clause     124],     at end insert '; but this is subject to subsection (10AA).

    (10AA) In determining for the purposes of this section whether a body corporate is the parent of the lessor, paragraphs 5(3) and 5B to 5E of Schedule 18 to the Income and Corporation Taxes Act 1988 shall not apply for the purposes of paragraph (b) or (c) of subsection (8) above.'.

   

Mr Chancellor of the Exchequer

121

Page     99,     line     12     [Clause     124],     leave out 'subsection (8A)' and insert 'this section'.

   

Mr Chancellor of the Exchequer

122

Page     99,     line     14     [Clause     124],     leave out 'on or'.

   

Mr Chancellor of the Exchequer

123

Page     99,     line     26     [Clause     125],     leave out 'on or'.

   

Mr Chancellor of the Exchequer

124

Page     99,     line     41     [Clause     126],     leave out 'on or'.

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Mr Chancellor of the Exchequer

125

Page     101,     line     17     [Clause     127],     leave out 'on or'.

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Mr Chancellor of the Exchequer

80

Page     104,     line     33     [Clause     132],     at end insert—

    '( ) Subsection (2) does not apply to the amendment made by paragraph 8(5) of that Schedule.

    That amendment has effect in relation to supplies made after the day on which this Act is passed.'.

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Mr Chancellor of the Exchequer

81

Page     543,     line     51     [Schedule     35],     at end insert 'and for "neither of those sub-paragraphs" substitute "none of those paragraphs".'.

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Mr Chancellor of the Exchequer

82

Page     544,     line     26     [Schedule     35],     at end insert—

    '(5) After paragraph (e) (which is inserted by sub-paragraph (4) above) insert—

"(f) wind turbines;
(g) water turbines."'.

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Mr Chancellor of the Exchequer

92

Page     566,     line     21     [Schedule     40],     at end insert—

'1992 c. 48.

The Finance (No.2) Act 1992.

In Schedule 6, paragraph 3.'.

   

Mr Chancellor of the Exchequer

93

Page     566,     line     29     [Schedule     40],     leave out 'that Act' and insert 'the Taxes Act 1988 and the repeal in Schedule 6 to the Finance (No.2) Act 1992'.

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Mr Chancellor of the Exchequer

126

Page     571,     line     18     [Schedule     40],     at end insert—

'1986 c. 41.

The Finance Act 1986.

In sections 67(9), 70(9), 95(1) and 97(1), the words "and is resident in the United Kingdom" and "and is so resident".'.

   

Mr Chancellor of the Exchequer

127

Page     571,     line     23     [Schedule     40],     column 3, at end insert—

'Section (Stamp duty and stamp duty reserve tax: transfers between depositary receipt systems and clearance systems).'.

   

Mr Chancellor of the Exchequer

128

Page     571,     line     27     [Schedule     40],     at end insert—

    '1A. The repeals in the Finance Act 1986 have effect in accordance with section (Stamp duty and stamp duty reserve tax: transfers between depositary receipt systems and clearance systems)(5) of this Act.'.

   

Mr Chancellor of the Exchequer

129

Page     571,     line     28     [Schedule     40],     leave out 'repeal in section 131 of this Act has effect—

(a) so far as it relates'

    and insert 'repeals of sections 131 and (Stamp duty and stamp duty reserve tax: transfers between depositary receipt systems and clearance systems) of this Act have effect—

(a) so far as relating'.

   

Mr Chancellor of the Exchequer

130

Page     571,     line     31     [Schedule     40],     leave out 'it relates' and insert 'relating to stamp duty on instruments other than bearer instruments, in accordance with section 108 of that Act; and

(c) so far as relating'.

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Prepared 19 Jul 2000