| Amendments proposed to the Note - continued | House of Commons |
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Mrs Theresa Villiers 51 Clause 47, page 35, line 4 [Vol I], after 'film' insert 'by a film production company'.
Mrs Theresa Villiers 52 Clause 47, page 35, line 7 [Vol I], after 'incurred' insert 'by a film production company'.
Mrs Theresa Villiers 77 Clause 54, page 38, line 34 [Vol I], at end insert 'at a rate that is less than an arm's length rate'.
Mrs Theresa Villiers 78 Clause 54, page 38, line 35 [Vol I], at end insert 'at a rate that is less than an arm's length rate'.
Mrs Theresa Villiers 79 Clause 54, page 38, line 36 [Vol I], at end insert 'at a rate that is less than an arm's length rate'.
Mrs Theresa Villiers 80 Clause 54, page 38, line 37 [Vol I], at end insert 'at a rate that is less than an arm's length rate'.
Mrs Theresa Villiers 81 Clause 54, page 38, line 39 [Vol I], at end insert 'at a value that differs from market value so that the charity is disadvantaged by the transaction'.
Mrs Theresa Villiers 82 Clause 54, page 39, line 3 [Vol I], after 'investment', insert 'other than a Qualifying Investment for the purposes of Schedule 20 of ICTA 1988'.
Mrs Theresa Villiers 83 Clause 54, page 39 [Vol I], leave out lines 15 to 17.
Mrs Theresa Villiers 84 Clause 54, page 39 [Vol I], leave out lines 18 to 23.
Mrs Theresa Villiers 85 Clause 54, page 39, line 26 [Vol I], after 'remuneration', insert 'unless it is paid either under a contract of employment at a rate not exceeding an arm's length rate or'.
Mrs Theresa Villiers 86 Clause 54, page 39 [Vol I], leave out lines 37 and 38.
Mrs Theresa Villiers 87 Clause 54, page 40, line 9 [Vol I], leave out 'on a recognised stock exchange' and insert 'or admitted to trading on any market which from time to time appears on the most-recently updated list of regulated markets as published by the European Commission under Acticle 16 of Directive 93/22/EEC (OJL 141, 11.6.1993) or Article 47 of Directive 2004/39/EC (OJL 145, 30.4.2004) together with securities admitted to trading on the Alternative Investment Market of the London Stock Exchange PLC; or is a Qualifying Investment for the purposes of Schedule 20 of ICTA 1988'.
Dawn Primarolo 62 Clause 54, page 40, line 21 [Vol I], leave out 'value' and insert 'limit'.
Mrs Theresa Villiers 88 Clause 54, page 40, line 23 [Vol I], leave out 'which is wholly' and insert 'of which 50 per cent. or more of the shares is'.
Dawn Primarolo 63 Clause 54, page 40, line 25 [Vol I], at end insert—'(9) A registered social landlord or housing association shall not be treated as a substantial donor in relation to a charity with which it is connected; and for that purpose—
Mrs Theresa Villiers 89 Clause 54, page 41 [Vol I], leave out lines 1 to 6 and insert—'(4) Subsection 3 of section 506A shall not apply to any transaction to which subsection 4 applies.'.
Mrs Theresa Villiers 90 Clause 54, page 41, line 28 [Vol I], at end insert—'(10) Where a person who considers that subsection 3 or 4 of Section 506A above may apply to any transaction or proposed transaction, supplies to the inspector to whom he makes his return of income written particulars of the transaction or proposed transaction—
(11) If the particulars given under this section with respect to the transaction are not such as to make full and accurate disclosure of all facts and considerations relating thereto which are material to be known to the inspector, any notification given by the inspector under subsection (10) above shall be void.'.
Mrs Theresa Villiers 91 Clause 54, page 41, line 31 [Vol I], leave out 'by reference to gifts made at any time' and insert 'only by reference to gifts made on or after that date'.
Mrs Theresa Villiers 92 Clause 56, page 43, line 20 [Vol I], leave out 'shall' and insert 'may at the election of the charity'.
Mrs Theresa Villiers 93 Clause 56, page 43, line 26 [Vol I], leave out 'shall' and insert 'may at the election of the charity'.
Dawn Primarolo 71 Clause 57, page 43 [Vol I], leave out line 36.
Mrs Theresa Villiers 94 Page 44, line 3 [Vol I], leave out Clause 58.
Mrs Theresa Villiers 95 Clause 58, page 44, line 11 [Vol I], at end insert—'(3A) After subsection (3E) insert— "(3F) Reliefs under this section shall be as follows—
Mrs Theresa Villiers 103 Clause 69, page 54, line 10 [Vol I], at end insert—'(2D) Arrangements where the tax advantage arises due to the creation or utilisation of an allowable loss shall not be treated as arrangements for the purposes of Part VII of the Finance Act 2004. (2E) Where an allowable loss accrues to a company in circumstances that are not disqualifying circumstances, then for the purposes of the Tax Acts it should be assumed that the Promoter and the company did not wish that the element of the arrangements that secured a tax advantage not to be disclosed to any other promoter or Her Majesty's Revenue and Customs."'.
Mrs Theresa Villiers 105 Clause 69, page 54, line 10 [Vol I], at end insert—'(2D) Subsection (2)(b) above shall not apply where, before the end of the accounting period in which the allowance loss accrues, the Board have on the application of the company notified the company that the Board are satisfied that the disposal or deemed disposal does not accrue in disqualifying circumstances. (2E) Subsection (2D) shall be subject to the same procedures contained within section 138(2) to (5)."'.
Mrs Theresa Villiers 104 Clause 69, page 55, line 4 [Vol I], after 'enforceable)', insert 'but arrangements shall not include any election under section 24, 161 or 171A and shall not apply to either the whole or part of the loss to the extent that the allowable loss corresponds to an equivalent economic loss suffered by the company'.
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