| Amendments proposed to the Finance Bill - continued | House of Commons |
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Mr Michael Howard 208 Clause 162, page 105, leave out lines 21 to 39.
Mr Michael Howard 209 Clause 162, page 105, line 28, leave out 'that date' and insert '9th April 2003'.
Mr Paul Boateng 297 Clause 162, page 105, line 32, leave out paragraph (d) and insert—
Mr Michael Howard 210 Schedule 29, page 354, line 16, at end insert—'(3A) Where any outstanding section 87/89 gains of a settlement are brought into the settlement's Schedule 4C pool by virtue of any provision of this Schedule, they shall thereafter no longer be available for attribution to beneficiaries of that settlement under sections 87(4) or 89(2), nor shall they thereafter be outstanding trust gains of that settlement within the meaning of section 90(2) or (3) on any subsequent occasion to which section 90 might otherwise apply.'.
Mr Michael Howard 212 Schedule 29, page 355, line 12, after 'the', insert 'available'.
Mr Michael Howard 211 Schedule 29, page 356, line 34, at end insert—'(4) Where in any year gains are attributed under section 87(4) or section 89(2) to beneficiaries who are chargeable to tax within the meaning of paragraph 8(4), the amount so attributed shall in future years thereafter no longer form part of the Schedule 4C pool of any settlement which is a relevant settlement in relation to that pool.'.
Mr Michael Howard 290 Clause 175, page 111, line 18, at end insert—'(1A) The provisions of Schedule 36 have effect in relation to adult placement carers with the modifications specified in subsections (1B) to (1G) below. (1B) References to the "provision of foster care" are to the provision of services under a placement agreement as an adult placement carer. (1C) The expressions "placement agreement" and "adult placement carer" have the meanings given to them by subsection (1H) and (1J) below, and paragraph 4 does not apply. (1D) References to a "foster care arrangement" are to arrangements by which an individual provides services under a placement agreement as an adult placement carer otherwise than as part of a trade, profession or vocation carried on by that individual. (1E) References to "foster care receipts" and "total foster care receipts" are to receipts in respect of the provision of services under a placement agreement as an adult placement carer. (1F) References to a child are to a service user under a placement agreement. (1G) The weekly amount for a service user for the purposes of ascertaining the individual's limit is £270, and paragraph 8(2) does not apply. (1H) A "placement agreement" is an agreement between a service user, an adult placement carer and the local authority or other agency that manages an adult placement scheme (see subsection (1K)), which makes provision for the terms under which the service user is to be accommodated, cared for or supported by the adult placement carer under the adult placement scheme. (1J) An "adult placement carer" is a person approved by an adult placement scheme (see subsection (1K)) who provides short or long term accommodation, care or support in their home to vulnerable adults placed with them through and supported by the adult placement scheme. (1K) An "adult placement scheme" is a scheme managed by a local authority or independent (profit or non-profit making) agency, and working to government guidelines and standards in England and Wales, Scotland and Northern Ireland, which is responsible:—
Mr Michael Howard 203 Schedule 36, page 408, line 23, at end insert—'(7) The Treasury may by order substitute, for the fixed amount in sub-paragraph (1), a higher figure in relation to a residence in a high-cost area designated by them for the purposes of this paragraph.'.
Mr Michael Howard 310 Schedule 37, page 415, leave out lines 1 to 3 and insert—'(4) The amendments made by this paragraph have effect in relation to loan relationships entered into on or after 9th April 2003'.
Mr Michael Howard 311 Schedule 37, page 416, leave out lines 43 and 44 and insert—'(4) The amendments made by this paragraph have effect in relation to relevant discounted securities issued on or after 9th April 2003'.
Mr Michael Howard 322 Schedule 37, page 417, leave out lines 28 and 29.
Mr Michael Howard 323 Schedule 37, page 417, line 29, at end add—
'PART 3
Definition of collective investment scheme | |||||||||||||||||||||||||||||||||||
| section 87(5A); |
| section 87A(3); |
| paragraph 2(1B) of Schedule 9; |
| paragraph 18(1)(c) of Schedule 9; |
| paragraph 20(5) of Schedule 9; |
| paragraph 20(6) of Schedule 9'. |
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
315
Clause 179, page 114, line 12, leave out 'any expenditure incurred by him in making' and insert 'the amount or value of'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
305
Clause 179, page 114, leave out lines 16 to 18 and insert—'(2) Where any such contribution is made by an investment company, the amount or value of the contribution shall for the purpose of section 75 be treated as an expense of management if it would not otherwise be deductible in computing the company's profits.'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
306
Clause 179, page 114, line 19, leave out 'Subsection (1) above does' and insert 'Subsections (1) and (2) above do'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
313
Clause 179, page 114, line 21, after 'benefit', insert '(other than publicity)'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
314
Clause 179, page 114, line 23, at end insert '; and for the purposes of this subsection a person shall not be regarded as having received, or being entitled to receive, a benefit if it is a benefit provided by an urban regeneration company in the normal course of, or incidental to, discharging the criteria mentioned in subsection (7) below.'.
Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
Mr David Wilshire
312
Clause 179, page 114, line 27, after 'benefit', insert '(other than publicity)'.
Mr Paul Boateng
300
Schedule 38, page 419, line 42, at end insert—'Option premium to be reflected in sale price unless brought into account under derivative contracts provisions
9A In section 730A of the Taxes Act 1988 (treatment of price differential on sale and repurchase of securities), after subsection (8) insert—
- "(8A) In this section references to the sale price are to be construed—
| (a) | in a case where the securities are bought back by the transferor or a person connected with him in compliance with a requirement imposed in consequence of the exercise of an option acquired under the agreement to sell the securities or any related agreement, as references to what would otherwise be the sale price plus the amount of any consideration given for the option, and |
| (b) | in a case where the securities are so bought back in the exercise of an option so acquired, as references to what would otherwise be the sale price less the amount of any consideration so given, |
- unless the consideration is brought into account under Schedule 26 to the Finance Act 2002 (derivative contracts).".'.
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| ©Parliamentary copyright 2003 | Prepared 12 Jun 2003 |