Amendments proposed to the Finance Bill - continued	House of Commons
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Right of appeal

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

NC2

To move the following Clause:—

'Appeals against a notice issued by the Commissioners of Her Majesty's Customs and Revenue under section 24 or section 26.

    (1)   Any company to whom a notice has been given under section 24 or 26 may within 30 days by notice to the Special Commissioners appeal on the grounds that section 24 or section 26, as appropriate, does not apply to the company in respect of the transaction or transactions in question, or that the adjustments directed to be made are not appropriate adjustments.

    (2)   If the Commissioners or the company are dissatisfied with the determination of the Special Commissioners the company or the Commissioners may, on giving notice to the clerk to the Special Commissioners within 30 days after the determination, require the appeal to be re-heard by the tribunal, and the Special Commissioners shall transmit to the tribunal any document in their possession which was delivered to them for the purposes of the appeal.

    (3)   Where notice is given under subsection (2) above, the tribunal shall re-hear and re-determine the appeal and shall have and exercise the same powers and authorities in relation to the appeal as the Special Commissioners might have and exercise, and the determination of the tribunal thereon shall be final and conclusive.

    (4)   On an appeal under subsection (1) and (3) above the Special Commissioners or the tribunal shall have power to cancel or vary a notice under section 24 or section 26 of this Act, or to vary or quash an assessment made in accordance with such a notice, but the bringing of an appeal or the statement of a case shall not affect the validity of a notice given or of any other thing done in pursuance of those sections pending the determination of the proceedings.'.

Treasury consent

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

NC3

To move the following Clause:—

'Sections 765, 765A, 766 and 767 of ICTA shall cease to have effect from 1st September 2005.'.

Pension scheme regulation

   

Chris Huhne
Susan Kramer
Stephen Williams

NC4

To move the following Clause:—

    '(1)   Section 158 of the Finance Act 2004 is amended as follows.

    (2)   At the end of subsection (1)(f) insert—

", or

(g)	that the investments of the scheme of 20 per cent. or more by value of the pension scheme over a three year period are invested in prohibited investments."

    (3)   After subsection (5) insert—

    "(6)   For the purposes of subsection (1), "prohibited investments" are—

(a)	investments of a nature that are not normally held for the purposes of producing an income return; or

(b)	residential property occupied other than under an agreement with a housing association or owned by an investment trust properly regulated for the purpose.".'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

57

Schedule     11,     page     155,     line     27,     at end insert—

'Income and Corporation Taxes Act 1988

Section 765

Section 765A

Section 766

Section 767'.

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Prepared 28 Jun 2005