S.C.F.
Amendment Paper as at
Tuesday 18th June 2002
STANDING COMMITTEE F
New Amendments handed in are marked thus *
FINANCE BILL
(Except Clauses 4, 19, 23, 26 to 29, 87 to 92, 131 and 134 and Schedules 1, 5 and 38)
NOTE
The Amendments have been arranged in accordance with the Order of the Committee [14th May], as follows:—
Clauses 1 to 3, Clause 5, Schedule 2, Clause 6, Schedule 3, Clauses 7 to 12, Schedule 4, Clauses 13 to 18, Clauses 20 to 22, Clauses 24 and 25, Clauses 30 to 33, Clause 36, Clauses 34 and 35, Clause 37, Schedule 6, Clause 39, Clause 38, Clauses 40 to 42, Schedule 7, Clause 43, Schedule 8, Clause 44, Schedule 9, Clauses 45 and 46, Schedule 10, Clauses 47 to 50, Schedule 11, Clause 51, Clause 117, Clause 52, Schedule 12, Clause 53, Schedules 13 and 14, Clauses 54 and 55, Schedule 15, Clause 56, Schedules 16 and 17, Clause 57, Schedule 18, Clause 58, Schedule 19, Clauses 59 and 60, Schedule 20, Clauses 61 and 62, Schedule 21, Clause 63, Schedule 22, Clauses 64 to 66, Clause 101, Clauses 67 to 78, Schedule 23, Clause 79, Schedule 24, Clauses 80 and 81, Schedule 25, Clause 82, Schedules 26 to 28, Clauses 102 and 103, Clause 105, Clause 83, Schedules 29 and 30, Clause 104, Clause 84, Schedule 31, Clause 85, Schedule 32, Clause 86, Clauses 93 to 100, Clauses 106 and 107, Schedule 33, Clauses 108 and 109, Schedule 34, Clauses 110 and 111, Schedule 35, Clauses 112 to 114, Schedule 36, Clauses 115 and 116, Clauses 118 to 129, Schedule 37, Clause 130, Clauses 132 and 133, Clauses 135 to 140, New Clauses, New Schedules, Schedule 39.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
86
Clause 98, page 75, line 3, after 'release', insert 'or constitutes long-form drama'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
87
Clause 98, page 75, line 19, at end insert—
| '(d) | "long-form drama" means a production of a duration of 60 minutes or more in total, shot to cinematic standards, of single or short episodic type with a budget in excess of £600,000 per hour.'. |
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
88
Clause 98, page 75, leave out lines 30 and 31 and insert 'unless before 17th April 2002 expenditure has been incurred on a film or a binding commitment to incur expenditure on a film has been entered into, in either case or in aggregate representing more than 20 per cent. of the budgeted cost of the film.'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
236
Clause 100, page 76, line 18, at end insert—
'(1A) In subsection (2)(e)(iii) of section 209 of the Taxes Act 1988 (meaning of "distribution") after the word "securities" insert—
| | "(other than securities in relation to which there exist hedging arrangements satisfying the conditions referred to in subsection (2) of section 209B)".'. |
Mr Paul Boateng
211
Clause 100, page 77, leave out lines 13 and 14 and insert—
'(6) For the purposes of subsection (5) above, "control", in relation to a company, means the power of a person to secure—
| (a) | by means of the holding of shares or the possession of voting power in or in relation to the company or any other company, or |
| (b) | by virtue of any powers conferred by the articles of association or other document regulating the company or any other company, |
that the affairs of the company are conducted in accordance with his wishes.
(7) There shall be left out of account for the purposes of subsection (6) above—
| (a) | any shares held by a company, and |
| (b) | any voting power or other powers arising from shares held by a company, |
if a profit on a sale of the shares would be treated as a trading receipt of a trade carried on by the company and the shares are not, within the meaning of Chapter 1 of Part 12, assets of an insurance company's long-term insurance fund (see section 431(2)).'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
233
Schedule 33, page 459, line 29, after 'company', insert '(irrespective of whether some or all of those shares are retained or cancelled)'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
234
Schedule 33, page 459, line 38, after 'company', insert '(irrespective of whether some or all of those shares are retained or cancelled)'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
235
Schedule 33, page 459, line 40, at end insert—
'(2A) For the purposes of this Part of this Schedule there is also a merger of two companies ("the merging companies") if—
| (a) | each merging company issues shares to members of the other merging company, and |
| (b) | the shares issued to the members of each merging company are issued— |
| (i) | in exchange for their shares in that company (irrespective of whether some or all of those shares are retained or cancelled), or |
| (ii) | by way of consideration for a transfer to the company issuing the shares of the whole or part of the business of the other merging company.'. |
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
252
*Clause 108, page 85, line 6, leave out from 'is' to end of line 7 and insert 'intended for use solely for a relevant residential purpose;'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
168
Clause 108, page 85, line 6, after 'dwelling', insert 'without significant expenditure being incurred on it'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
253
*Clause 108, page 85, line 13, leave out beginning to end of line 13 on page 86, and insert—
'(2) For the purposes of subsection (1) use for a relevant residential purpose means:
| (a) | a home or other institution providing residential accommodation for children; |
| (b) | a home or other institution providing residential accommodation with personal care for persons in need of personal care by reason of old age, disablement, past or present dependence on alcohol or drugs or past or present mental disorder; |
| (d) | residential accommodation for students or school pupils; |
| (e) | residential accommodation for members of any of the armed forces; |
| (f) | a monastery, nunnery or similar establishment; or |
| (g) | an institution which is the sole or main residence of at least 90 per cent. of its residents, |
except use as a hospital, prison or similar institution or an hotel, inn or similar establishment.'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
250
*Clause 108, page 85, line 32, after 'hospice', insert 'or accommodation provided for nurses in connection with their service at a hospital or hospice,'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
251
*Clause 108, page 85, line 32, at end insert—
| '(dd) | living accommodation available to the staff attached to an animal sanctuary, city farm or community garden'. |
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
248
*Clause 108, page 85, line 32, at end insert—
| '(dd) | living accommodation made available to workers in essential public services,'. |
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
249
*Clause 108, page 86, line 7, at end insert 'or categories of person constituting workers in essential public services for the purposes of subsection (3) and whether living accommodation has been made available to them'.
Mr Michael Howard
Mr John Bercow
Mr Howard Flight
Mr Christopher Chope
Mr Peter Luff
224
Clause 109, page 87, line 42, at end insert—
'(9A) This section shall not apply unless the main purpose or one of the main purposes of the execution of the relevant instrument was the avoidance of taxation.'.
Mr Paul Boateng
238
Schedule 34, page 462, line 22, at end insert—
'Relief not withdrawn in case of winding-up
| 2A | (1) | Section 109 does not apply if the transferee company ceases to be a member of the same group as the transferor company by reason of anything done for the purposes of, or in the course of, winding up the transferor company or another company that is above the transferor company in the group structure. |
| (2) | For the purposes of this paragraph a company is "above" the transferor company in the group structure if it is the parent (within the meaning of the relevant group relief provision)— |
(a) of the transferor company, or
(b) of another company that is above the transferor company in the group structure.'.
