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S.C.A.
Amendment Paper as at
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(a) | the company is in insolvent liquidation; |
(b) | the company is in insolvent administration; |
(c) | an appointment of a provisional liquidator is in force in relation to the company under section 135 of the Insolvency Act 1986 or Article 115 of the Insolvency (Northern Ireland) Order 1989; |
(d) | the company is in insolvent administrative receivership; or |
(e) | under the law of a country or territory outside the United Kingdom, circumstances exist corresponding to any of those described in paragraphs (a) to (d) above. |
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
11
Clause 31, page 29, leave out lines 7 to 13.
Mr Paul Boateng
73
Clause 32, page 30, line 33, leave out '6(3)(a)' and insert '6(2)(a)'.
Mr Paul Boateng
74
Clause 32, page 31, line 12, leave out '747(4)' and insert '747(3)'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
12
Clause 34, page 35, line 29, at end insert
'(fa) | in sub-paragraph (4)(c) after "would apart from section 84A(2) to (10) of this Act" insert "and disregarding any adjustment which might otherwise arise under the provisions of this paragraph".'. |
Mr Paul Boateng
75
Clause 35, page 36, line 1, leave out first 'paragraph' and insert 'Schedule'.
Mr Paul Boateng
76
Clause 35, page 36, line 15, leave out '109(3)(b) of the Taxes Act 1988' and insert '111(3)(b) of the Finance Act 1998'.
Mr Paul Boateng
77
Clause 35, page 39, line 4, leave out 'or 6C above' and insert 'above or a paragraph 6C claim'.
Mr Paul Boateng
78
Clause 35, page 39, line 8, at end insert
'(5) | In paragraph 14(1) (general interpretation) insert the following definition at the appropriate place |
Mr Paul Boateng
79
Clause 36, page 39, line 18, leave out 'issued by the advantaged person'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
13
Clause 36, page 39, line 19, leave out 'The disadvantaged person' and insert 'Any company other than the advantaged person ("the electing company")'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
14
Clause 36, page 39, line 20, leave out 'condition in sub-paragraph (3) below is' and insert 'conditions in both of sub-paragraph (3) and sub-paragraph (3A) below are'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
15
Clause 36, page 39, line 22, after 'condition', insert 'in this sub-paragraph'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
16
Clause 36, page 39, line 31, at end insert'(3A) The condition in this sub-paragraph is that arrangements are made by the electing company for securing the payment of any tax which, but for the election under this paragraph, would have been payable by the advantaged person in respect of the application of paragraph 1(2) above in relation to the relevant security by virtue of paragraph 1A above and those arrangements are approved by the Board for the purposes of this paragraph.
(3B) If any information furnished by the electing company for the purpose of securing the approval of the Board under sub-paragraph (3A) above does not fully and accurately describe all the facts and considerations material for the decision of the Board under that sub-paragraph, any resulting approval of the Board shall be void.'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
17
Clause 36, page 39, line 33, leave out 'the disadvantaged person'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
18
Clause 36, page 39, line 34, after '(a)', insert 'the disadvantaged person'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
19
Clause 36, page 39, line 36, leave out 'a chargeable period' and insert 'any chargeable period ending on or after the date of the election'.
Mr Oliver Letwin
Mr Howard Flight
Mr Mark Prisk
Mr Andrew Tyrie
Mr George Osborne
20
Clause 36, page 39, line 38, after 'instead', insert 'the electing company'.
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©Parliamentary copyright 2004 | Prepared 11 May 2004 |