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

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Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

51

Page     243,     line     14     [Schedule     19],     leave out 'SDLT' and insert 'PTT'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

108

Page     243,     line     15     [Schedule     19],     leave out 'stamp duty land' and insert 'property transaction'.

   

Mr Chancellor of the Exchequer

97

Page     243,     line     39     [Schedule     19],     at end insert—

      'Time for stamping agreement for lease: lease subject to stamp duty land tax

     (1) This paragraph makes provision corresponding to section 240 of the Finance Act 1994 (c.9) (stamp duty: time for presenting agreement for lease) and applies where—

            (a)   an agreement for a lease is entered into before the implementation date,

            (b)   a lease giving effect to the agreement is executed on or after that date, and

            (c)   the transaction effected on completion is an SDLT transaction or would be but for an exemption or relief from stamp duty land tax.

    (2) If in those circumstances—

            (a)   the lease is produced when the agreement is presented for stamping, and

            (b)   the duty (if any) chargeable on the agreement is paid,

    sections 15A and 15B of the Stamp Act 1891 (c.39) (interest and penalty on late stamping) apply in relation to the agreement as if it had been executed on the date on which the lease was executed.

    (3) For the purposes of this paragraph a lease gives effect to an agreement if the lease either is in conformity with the agreement or relates to substantially the same property and term as the agreement.

    (4) References in this paragraph to an agreement for a lease include missives of let in Scotland.'.


   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

15

Page     246,     line     8     [Schedule     20],     after 'other', insert 'transitional'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

16

Page     246,     line     9     [Schedule     20],     leave out 'appear to them appropriate in consequence of abolition' and insert 'are necessary or reasonably incidental to effect the replacement'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

17

Page     246,     line     13     [Schedule     20],     leave out 'appear to the Treasury to be appropriate' and insert 'are necessary or reasonably incidental to the replacement of stamp duty except on instruments relating to stock and marketable securities; but any such provision or any such regulation which is not necessary or reasonably incidental to such purpose shall not take effect.'.

   

Mr Michael Howard
Mr Howard Flight [R]
Mr Stephen O'Brien
Mr Mark Prisk
David Maclean
Mr David Wilshire

18

Page     246,     line     15     [Schedule     20],     leave out 'annulment in pursuance of a' and insert 'an affirmative'.


   

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.'.


FINANCE BILL (PROGRAMME) (No. 5)

Mr Peter Hain

Mr Chancellor of the Exchequer

That in accordance with the Resolution of the Programming Committee of 30th June 2003 and pursuant to the Programme Order of 6th May 2003 relating to the Finance Bill:

    (1)   Proceedings on consideration shall (so far as not previously concluded) be brought to a conclusion 8 hours after the commencement of proceedings on the first of the Ways and Means motions relating to the Bill set down this day.

    (2)   Proceedings on Third Reading shall (so far as not previously concluded) be brought to a conclusion 9½ hours after the commencement of the proceedings on that motion.

    (3)   Paragraph (2) of this Order has effect notwithstanding the practice of the House as to the intervals between stages of Bills brought in upon Ways and Means Resolutions.

    (4)   The proceedings on consideration shall be taken in the order shown in the following Table, and each part of the proceedings shall (so far as not previously concluded) be brought to a conclusion at the time specified in the second column.

TABLE

ProceedingsTime for conclusion of proceedings
New Clauses and new Schedules, except those relating to stamp duty land tax or stamp duty.3½ hours after the commencement of the proceedings on the motion referred to in paragraph (1) above.
Amendments relating to Clauses 1 to 41 and Schedules 1 and 2; amendments relating to Clauses 130 to 211 and Schedules 21 to 42.5½ hours after the commencement of those proceedings.
New Clauses and new Schedules relating to stamp duty land tax or stamp duty; amendments relating to Clauses 42 to 129 and Schedules 3 to 20; remaining proceedings.8 hours after the commencement of those proceedings.


 
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Prepared 1 Jul 2003