Amendments proposed to the Finance Bill, As Amended - continued House of Commons

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Mr Chancellor of the Exchequer

132

Page     396,     line     7     [Schedule     33],     at end insert —

    '(2ZCA)   For the purposes of subsection (2ZC) above—

      (a) closing liabilities of the transferee are to be taken not to relate to the business transferred to the extent that they are liabilities which, immediately before the transfer, were reinsured by the transferor with the transferee, but

      (b) closing liabilities of the transferee are to be taken to relate to the business transferred to the extent that they are liabilities which, immediately before the transfer, were reinsured by the transferee with the transferor if the business transferred consists of or includes that reinsurance business.'.


   

Mr Chancellor of the Exchequer

133

Page     397,     line     10     [Schedule     33],     after '431(2)', insert 'of the Taxes Act 1988'.

   

Mr Chancellor of the Exchequer

134

Page     397,     line     32     [Schedule     33],     at end insert —

      'Meaning of "period of account"

     '26A In section 431(2) of the Taxes Act 1988 (interpretative provisions relating to insurance companies), after the definition of "periodical return" insert—

      ""period of account" means the period covered by a periodical return;".'.

   

Mr Chancellor of the Exchequer

135

Page     444,     line     30     [Schedule     43],     leave out from 'in' to end of line 31 and insert 'subsections (1) and (2), the words "and section 441A";'.


   

Mr Chancellor of the Exchequer

136

Page     445,     [Schedule     43],     leave out lines 5 to 8.

   

Mr Chancellor of the Exchequer

137

Page     445,     line     37     [Schedule     43],     at end insert—

'Section 45(5).'.
   

Mr Chancellor of the Exchequer

145

*Page     445,     line     45     [Schedule     43],     at end insert—

'Section 213(3A) and (3B).'.


   

Mr Chancellor of the Exchequer

138

Page     446,     line     7     [Schedule     43],     at end insert—

'Finance Act 1998 (c. 36)Section 137(4) and (7).'.
   

Mr Chancellor of the Exchequer

139

Page     446,     line     11     [Schedule     43],     leave out 'and the repeals in the Finance Act 1990,' and insert ', the repeal of section 43 of the Finance Act 1990 and the repeals in'.

   

Mr Chancellor of the Exchequer

140

Page     446,     line     24     [Schedule     43],     leave out 'repeals in section 83(6)(c) and (8) of the Finance Act 1989 have' and insert 'repeal in section 83(8) of the Finance Act 1989 has'.

   

Mr Chancellor of the Exchequer

141

Page     446,     line     28     [Schedule     43],     at end insert—

    '7   The repeal of section 45(5) of the Finance Act 1990 has effect in relation to distributions on or after 9th April 2003.'.

   

Mr Chancellor of the Exchequer

146

*Page     446,     line     28     [Schedule     43],     at end insert—

     '8 The repeals in section 213 of the Taxation of Chargeable Gains Act 1992 and the Finance Act 1998 have effect in accordance with paragraph 14A(6) of Schedule 33 to this Act.'.


 
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Prepared 27 Jun 2003