|
| |
| |
(4) | The reference in sub-paragraph (2) to the group of companies of which a |
| |
company was a member is to be construed— |
| |
(a) | in relation to the 1992 Act in accordance with the provisions of |
| |
section 170 of that Act; and |
| |
(b) | in relation to Schedule 29 to the Finance Act 2002 (c. 23), in |
| 5 |
accordance with Part 8 of that Schedule. |
| |
29 (1) | This paragraph applies where— |
| |
(a) | as a consequence of a transfer in accordance with a nuclear transfer |
| |
scheme of securities of a subsidiary of the NDA, that subsidiary |
| |
becomes a relevant site licensee; |
| 10 |
(b) | as a consequence of a transfer to the NDA or to a subsidiary of the |
| |
NDA in accordance with such a scheme of securities of a company, |
| |
that company ceases to be a relevant site licensee; or |
| |
(c) | there is a transfer in accordance with such a scheme of securities of a |
| |
company that is a relevant site licensee from one person to another |
| 15 |
person for purposes connected with securing that the condition in |
| |
section 30(5)(c) continues to be satisfied in relation to the company. |
| |
(2) | For the purposes of the 1992 Act, the securities shall be treated as disposed |
| |
of to the transferee for a consideration of such amount as would secure that, |
| |
on the disposal, neither a gain nor a loss accrues to the transferor. |
| 20 |
30 | In this Part of this Schedule “relevant site licensee” has the same meaning as |
| |
in subsection (4) of section 30 (see subsection (5)). |
| |
| |
Transfer of Nuclear Liabilities Investment Portfolio |
| |
Application of Part 4 of Schedule |
| 25 |
31 | This Part of this Schedule applies to a transfer to the Secretary of State in |
| |
accordance with a nuclear transfer scheme containing provision authorised |
| |
by section 45 of this Act. |
| |
Chargeable gains: assets to be treated as disposed without a gain or a loss |
| |
32 (1) | This paragraph applies for the purposes of the 1992 Act where an asset is |
| 30 |
transferred by a transfer to which this Part of this Schedule applies. |
| |
(2) | The asset shall be treated as disposed of to the Secretary of State for a |
| |
consideration of such amount as would secure that, on the disposal, neither |
| |
a gain nor a loss accrues to BNFL. |
| |
Neutral effect of transfer for loan relationships and derivative contracts |
| 35 |
33 | No credit or debit shall be required or allowed, in respect of a transfer to |
| |
which this Part of this Schedule applies, to be brought into account in |
| |
| |
(a) | for the purposes of Chapter 2 of Part 4 of the Finance Act 1996 (c. 8) |
| |
| 40 |
(b) | for the purposes of Schedule 26 to the Finance Act 2002. |
| |
| |
| |
|
| |
| |
| |
| |
34 (1) | Stamp duty is not to be chargeable— |
| |
(a) | on a nuclear transfer scheme, or |
| |
(b) | on an instrument certified by the Secretary of State to the |
| 5 |
Commissioners of Inland Revenue as made for the purposes of such |
| |
a scheme, or as made for purposes connected with such a scheme, |
| |
| except to the extent that the scheme or instrument includes provision in |
| |
relation to private transfers. |
| |
(2) | But where, by virtue of sub-paragraph (1), stamp duty is not chargeable at |
| 10 |
all, or is chargeable only to a reduced extent, on a nuclear transfer scheme or |
| |
instrument, the scheme or instrument is to be treated as duly stamped only |
| |
| |
(a) | in accordance with section 12 of the Stamp Act 1891 (c. 39) it has been |
| |
stamped with a stamp denoting either that it is not chargeable to |
| 15 |
duty or that it has been duly stamped; or |
| |
(b) | it is stamped with the duty to which it would be chargeable apart |
| |
| |
(3) | An agreement which is made for the purposes of a nuclear transfer scheme |
| |
or purposes connected with such a scheme is not to give rise to stamp duty |
| 20 |
reserve tax except to the extent that the agreement relates to private |
| |
| |
| |
| “instrument” has the same meaning as in the Stamp Act 1891; |
| |
| “private transfer” means— |
| 25 |
(a) | a transfer of any property, right or liability to a person other |
| |
than the Secretary of State, the NDA or a publicly owned |
| |
| |
(b) | the creation of an interest or right in favour of a person other |
| |
than the Secretary of State, the NDA or a publicly owned |
| 30 |
| |
| |
Supplemental provisions of Schedule |
| |
| |
35 | References to a company in the following enactments shall apply to the |
| 35 |
| |
(a) | sections 170 to 181 of the 1992 Act; |
| |
(b) | Part 8 of Schedule 29 to the Finance Act 2002 (c. 23). |
| |
| |
36 | In section 35(3)(d) of the 1992 Act (no gain no loss disposals) after sub- |
| 40 |
| |
“(xv) | paragraph 3, 18, 29 or 32 of Schedule 9 to the Energy |
| |
| |
| |
| |
|
| |
| |
Interpretation of Schedule |
| |
| |
| “the 1992 Act” means the Taxation of Chargeable Gains Act 1992 |
| |
| |
| “the 2001 Act” means the Capital Allowances Act 2001 (c. 2); |
| 5 |
| “exempt activities” has the same meaning as in section 30 of this Act |
| |
| “NDA company” has the same meaning as in section 30 of this Act; |
| |
| “the Nuclear Liabilities Investment Portfolio” means property and |
| |
rights to which BNFL is entitled and which appear to the Board, |
| |
from BNFL’s published accounts, to represent assets held by BNFL |
| 10 |
for the purpose of being able to meet costs or liabilities for which the |
| |
NDA has a financial responsibility under Chapter 1 of Part 2 of this |
| |
| |
| “section 42 scheme” means a nuclear transfer scheme authorised by |
| |
| 15 |
| “section 43 scheme” means a nuclear transfer scheme authorised by |
| |
| |
| “transferee”, in relation to a transfer in accordance with a nuclear |
| |
transfer scheme, means the person to whom the transfer is made; |
| |
| “transferor”, in relation to a transfer in accordance with a nuclear |
| 20 |
transfer scheme, means the person from whom the transfer is made; |
| |
| “the Taxes Act” means the Income and Corporation Taxes Act 1988 |
| |
| |
(2) | Before determining for the purposes of this Schedule whether an asset was |
| |
comprised at a particular time in the Nuclear Liabilities Investment |
| 25 |
Portfolio, the Board must consult the Secretary of State. |
| |
(3) | So far as it relates to corporation tax this Schedule is to be construed as one |
| |
with the Corporation Tax Acts. |
| |
(4) | So far as it relates to capital allowances this Schedule is to be construed as |
| |
| 30 |
| |
| |
The Civil Nuclear Police Authority |
| |
| |
| |
| 35 |
1 (1) | The Police Authority shall consist of not fewer than seven and not more than |
| |
| |
(2) | The members of the Police Authority are to be appointed by the Secretary of |
| |
| |
(3) | The Secretary of State must appoint one of the members of the Police |
| 40 |
Authority to be its chairman. |
| |
| |
| |
|
| |
| |
| |
2 (1) | Subject to what follows, each member of the Police Authority is to hold and |
| |
vacate office as chairman, or otherwise as a member, in accordance with the |
| |
terms of his appointment. |
| |
(2) | Each appointment must state the period for which it is made. |
| 5 |
(3) | That period must not exceed five years; but a person is eligible for re- |
| |
appointment as chairman, or otherwise as a member of the Police Authority, |
| |
(on any number of occasions) from the end of a term of office. |
| |
(4) | A member of the Police Authority may at any time resign his office as the |
| |
chairman or as a member of the Police Authority (or both) by giving notice |
| 10 |
to the Secretary of State. |
| |
(5) | If the Secretary of State is satisfied that sub-paragraph (6) applies to the |
| |
chairman or another member of the Police Authority, the Secretary of State |
| |
may, by giving him notice to that effect, remove him from office. |
| |
(6) | This sub-paragraph applies to a person if— |
| 15 |
(a) | he is an undischarged bankrupt or has had his estate sequestrated |
| |
without being discharged; |
| |
(b) | he is subject to a bankruptcy restrictions order or an interim |
| |
bankruptcy restrictions order; |
| |
(c) | he has made an arrangement with his creditors, or has entered into a |
| 20 |
trust deed for creditors, or has made a composition contract with his |
| |
| |
(d) | he has been convicted of an offence; |
| |
(e) | he has been absent, on at least three consecutive occasions and |
| |
without the consent of the Police Authority, from meetings of that |
| 25 |
| |
(f) | he is for any other reason incapable of carrying out, or unfit to carry |
| |
out, the functions of his office. |
| |
(7) | Oral notice is not effective for the purposes of sub-paragraph (4) or (5). |
| |
| 30 |
3 | The Police Authority may pay to each of its members such remuneration and |
| |
allowances as the Secretary of State may determine. |
| |
| |
| |
Police Authority to regulate procedure |
| 35 |
4 (1) | The Police Authority may make such arrangements as it thinks fit for |
| |
regulating its proceedings. |
| |
(2) | Those arrangements may include— |
| |
(a) | arrangements for quorums and the making of decisions by a |
| |
| 40 |
(b) | the establishment of committees and the regulation of their |
| |
| |
(c) | the delegation of functions to committees established by the Police |
| |
Authority and to its employees. |
| |
| |
| |
|
| |
| |
(3) | The membership of a committee established by the Police Authority may |
| |
include employees of that Authority and persons who are neither members |
| |
nor employees of that Authority. |
| |
| |
5 | The validity of proceedings of the Police Authority shall not be affected by— |
| 5 |
(a) | a failure by the Secretary of State to comply with paragraph 1; or |
| |
(b) | any other defect in the appointment of a member of the Police |
| |
| |
| |
| 10 |
Employees of the Police Authority |
| |
6 (1) | The Police Authority may employ such persons as it may determine. |
| |
(2) | Those persons are to be employed by the Police Authority on such terms and |
| |
conditions, including terms and conditions as to remuneration, as the Police |
| |
| 15 |
(3) | The Police Authority may— |
| |
(a) | pay to or in respect of its employees such pensions, allowances or |
| |
| |
(b) | with the approval of the Secretary of State, provide and maintain for |
| |
them such pension schemes (whether contributory or not), |
| 20 |
| |
(4) | This paragraph is subject to section 61 and any direction to the Police |
| |
Authority under Schedule 13. |
| |
UKAEA pensions for employees of the Police Authority |
| |
7 (1) | A pension scheme maintained by the UKAEA under paragraph 7(2)(b) of |
| 25 |
Schedule 1 to the Atomic Energy Authority Act 1954 (c. 32) (“a UKAEA |
| |
pension scheme”) may apply to employees of the Police Authority as it |
| |
applies to persons to whom it applies apart from this paragraph. |
| |
(2) | The Secretary of State may, by direction, require the UKAEA to make such |
| |
modifications of a UKAEA pension scheme as the Secretary of State |
| 30 |
considers appropriate in respect of the participation of persons in such a |
| |
scheme by virtue of this paragraph. |
| |
(3) | A direction under sub-paragraph (2) may also require the UKAEA to make |
| |
such supplemental, consequential and transitional provision modifying a |
| |
UKAEA pension scheme as the Secretary of State considers appropriate. |
| 35 |
(4) | Before giving a direction under this paragraph, the Secretary of State must |
| |
| |
| |
(b) | the Police Authority; |
| |
| 40 |
(d) | such persons as appear to him to represent the employees likely to be |
| |
affected by the direction. |
| |
(5) | The power of the Secretary of State to give directions under this paragraph— |
| |
| |
| |
|
| |
| |
(a) | is in addition to the powers of the Secretary of State to give directions |
| |
to the UKAEA under paragraphs 5 and 6 of Schedule 8 to this Act or |
| |
section 3 of the Atomic Energy Authority Act 1954 (c. 32); and |
| |
(b) | is to be disregarded in construing those powers. |
| |
(6) | The Police Authority must pay such amounts to the UKAEA in respect of the |
| 5 |
participation of persons in a pension scheme by virtue of this paragraph as |
| |
| |
(a) | agreed between the Police Authority and the UKAEA; or |
| |
(b) | in the absence of such agreement, determined by the Secretary of |
| |
| 10 |
(7) | References in this paragraph to the modification of a UKAEA pension |
| |
scheme include references to the modification of any one or more of the |
| |
| |
(a) | the trust deed of the scheme, if there is one; |
| |
(b) | rules of the scheme; or |
| 15 |
(c) | any other instrument relating to the constitution, management or |
| |
| |
| |
| |
Borrowing by the Police Authority |
| 20 |
8 (1) | The Police Authority may borrow money, but only in accordance with this |
| |
| |
(2) | The approval of the Treasury is required for borrowing by the Police |
| |
| |
(3) | The Police Authority may borrow from the Secretary of State such sums in |
| 25 |
sterling as it may require for meeting its obligations and for carrying out its |
| |
| |
(4) | The Police Authority may, with the consent of the Secretary of State, borrow |
| |
temporarily by way of overdraft from persons other than the Secretary of |
| |
State such sums in sterling as it may require for meeting its obligations and |
| 30 |
for carrying out its functions. |
| |
(5) | The Police Authority must not borrow if the effect would be— |
| |
(a) | to take the aggregate amount outstanding in respect of the principal |
| |
of sums it has borrowed over its borrowing limit; or |
| |
(b) | to increase the amount by which the aggregate amount so |
| 35 |
outstanding exceeds that limit. |
| |
(6) | The Police Authority’s borrowing limit is £10 million. |
| |
(7) | The Secretary of State may by order vary the Police Authority’s borrowing |
| |
| |
(8) | The approval of the Treasury is required for the making of an order under |
| 40 |
| |
(9) | An order under sub-paragraph (7) is subject to the negative resolution |
| |
| |
| |
| |
|
| |
| |
Guarantees for borrowing by the Police Authority |
| |
9 (1) | The Secretary of State may guarantee— |
| |
(a) | the repayment of the principal of any sum borrowed by the Police |
| |
| |
(b) | the payment of interest on such a sum; and |
| 5 |
(c) | the discharge of any other financial obligation of the Police Authority |
| |
in connection with the borrowing of such a sum. |
| |
(2) | The Secretary of State may give a guarantee under this paragraph in such |
| |
manner, and on such terms, as he thinks fit. |
| |
(3) | As soon as practicable after giving a guarantee under this paragraph, the |
| 10 |
Secretary of State must lay a statement of the guarantee before Parliament. |
| |
(4) | If sums are paid out by the Secretary of State under a guarantee given under |
| |
this paragraph, the Police Authority must pay him— |
| |
(a) | such amounts in or towards the repayment to him of those sums as |
| |
| 15 |
(b) | interest, at such rates as he may direct, on amounts outstanding |
| |
under this sub-paragraph. |
| |
(5) | Payments to the Secretary of State under sub-paragraph (4) must be made at |
| |
such times, and in such manner, as he may from time to time direct. |
| |
(6) | Where a sum has been paid out by the Secretary of State under a guarantee |
| 20 |
given under this paragraph, he must lay a statement relating to that sum |
| |
| |
(a) | as soon as practicable after the end of the financial year in which that |
| |
| |
(b) | as soon as practicable after the end of each subsequent relevant |
| 25 |
| |
(7) | In relation to a sum paid out under a guarantee, a financial year is a relevant |
| |
financial year for the purposes of sub-paragraph (6) unless— |
| |
(a) | before the beginning of that year, the whole of that sum has been |
| |
repaid to the Secretary of State under sub-paragraph (4); and |
| 30 |
(b) | the Police Authority is not at any time during that year subject to a |
| |
liability to pay interest on amounts that became due under that sub- |
| |
paragraph in respect of that sum. |
| |
(8) | The consent of the Treasury is required— |
| |
(a) | for the giving of a guarantee under this paragraph; and |
| 35 |
(b) | for the giving of a direction under sub-paragraph (4) or (5). |
| |
Grants and loans to the Police Authority |
| |
10 (1) | The Secretary of State may— |
| |
(a) | make payments by way of grant to the Police Authority; and |
| |
(b) | also make payments to it by way of loan. |
| 40 |
(2) | The Secretary of State may make any grants made by him to the Police |
| |
Authority subject to such conditions as he thinks fit. |
| |
(3) | Loans made by the Secretary of State to the Police Authority shall be on such |
| |
terms, as to repayment and interest and other matters, as the Secretary of |
| |
| 45 |
| |
| |
|
