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Dawn Primarolo
67
Schedule 6, page 187, line 42 [Vol I], leave out 'relevant'.
Dawn Primarolo
68
Schedule 6, page 188 [Vol I], leave out lines 6 and 7.
Dawn Primarolo
69
Schedule 6, page 188, line 18 [Vol I], at end insert—
| '(5A) | The amendments made by sub-paragraphs (2) and (3) have effect in relation to any share held by a company on or after 12th May 2006 in any case where— |
(a) the share is redeemable for the purposes of section 91D of FA 1996 as a result of any arrangements mentioned in subsection (2)(b) of that section (as substituted by sub-paragraph (2)), and
(b) the arrangements were entered into after the company acquired the share.
| (5B) | But in that case, in relation to an accounting period beginning before 12th May 2006, amounts are to be brought into account for the purposes of Chapter 2 of Part 4 of FA 1996 as a result of those amendments only if the amounts relate to any time on or after that date.'. |
Dawn Primarolo
70
Schedule 6, page 188, line 19 [Vol I], at beginning insert 'In any other case,'.
Dawn Primarolo
73
Schedule 7, page 196, line 31 [Vol I], leave out 'the transfer and any associated operations' and insert 'such of the relevant transactions as were'.
Dawn Primarolo
74
Schedule 7, page 196, line 42 [Vol I], leave out from first 'to' to second 'the' in line 43 and insert 'relevant transactions by reference to which'.
Dawn Primarolo
75
Schedule 7, page 197, line 1 [Vol I], leave out 'other associated operations' and insert 'associated operations not falling within paragraph (a) above'.
Dawn Primarolo
76
Schedule 7, page 197, line 32 [Vol I], at end insert—
' "relevant transactions" means—
| (b) | any associated operations.'. |
Dawn Primarolo
112
Schedule 8, page 214 [Vol I], leave out lines 4 and 5.
Dawn Primarolo
113
Schedule 8, page 216, line 6 [Vol I], after 'lease' insert '("the new lease")'.
Dawn Primarolo
114
Schedule 8, page 217, line 11 [Vol I], after 'lease' insert '("the new lease")'.
Dawn Primarolo
115
Schedule 8, page 245 [Vol I], leave out lines 38 and 39 and insert—
'unless the lease was finalised (see paragraph 23) before 21st July 2005 and on 17th May 2006 the lessor was within the charge to tax.
As respects any time before 18th May 2006, this sub-paragraph has effect with the omission of the words "and on 17th May 2006 the lessor was within the charge to tax".'.
Dawn Primarolo
116
Schedule 8, page 245, line 39 [Vol I], at end insert—
'This sub-paragraph is subject to sub-paragraphs (5) and (6).'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
163
Schedule 8, page 246, line 2 [Vol I], leave out 'April' and insert 'September'.
Dawn Primarolo
117
Schedule 8, page 246, line 6 [Vol I], leave out from beginning to first 'the' in line 8 and insert—
| '(a) | the commencement of the term of the lease was before 1st April 2006, but |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
164
Schedule 8, page 246, line 6 [Vol I], leave out 'April' and insert 'September'.
Dawn Primarolo
118
Schedule 8, page 246, line 13 [Vol I], at end insert—
| | (5) | Where the amendments made by this Schedule do not have effect in relation to a lease in the case of the lessor but— |
(a) there is a transfer of plant or machinery,
(b) immediately before the transfer, the lessor is within the charge to tax, and
(c) the transfer is in circumstances such that, if the amendments made by this Schedule did apply in relation to the lease, section 70W(4)(b) of CAA 2001 (transfers, assignments etc by lessor) would have effect in relation to the new lessor to treat the new lease as a lease which is not a long funding lease,
the amendments made by this Schedule do not have effect in relation to the new lease in the case of the new lessor.
"the new lease" means the lease that would be the new lease for the purposes of section 70W of CAA 2001, if that section applied;
"the new lessor" means the person who would be the new lessor for the purposes of that section, if that section applied;
and section 70W(7) of CAA 2001 (construction of references to transfer of plant or machinery) also has effect for the purposes of this sub-paragraph.
| (6) | Where the amendments made by this Schedule do not have effect in relation to a lease in the case of the lessee but— |
(a) there is a transfer of plant or machinery,
(b) immediately before the transfer, the lessee is within the charge to tax, and
(c) the transfer is in circumstances such that, if the amendments made by this Schedule did apply in relation to the lease, section 70X(4)(b) of CAA 2001 (transfers, assignments etc by lessee) would have effect in relation to the new lessee to treat the new lease as a lease which is not a long funding lease,
the amendments made by this Schedule do not have effect in relation to the new lease in the case of the new lessee.
"the new lease" means the lease that would be the new lease for the purposes of section 70X of CAA 2001, if that section applied;
"the new lessee" means the person who would be the new lessee for the purposes of that section, if that section applied.
and section 70X(7) of CAA 2001 (construction of references to transfer of plant or machinery) also has effect for the purposes of this sub-paragraph.
| (7) | In the application of section 70W(4)(b) or 70X(4)(b) of CAA 2001 for the purposes of sub-paragraph (5) or (6), the lease mentioned in the opening words of the sub-paragraph in question is to be regarded as a lease which is not a long funding lease.'. |
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
185
*Schedule 9, page 258, line 1 [Vol 1], leave out from beginning to end of line 17 on page 259.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
165
Schedule 9, page 260 [Vol I], leave out lines 17 to 31.
Dawn Primarolo
119
Schedule 9, page 261, line 3 [Vol I], after 'treated' insert 'by that person'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
166
Schedule 9, page 261, line 29 [Vol I], leave out 'April' and insert 'September'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
167
Schedule 9, page 261, line 37 [Vol I], leave out 'April' and insert 'September'.
Dawn Primarolo
96
Clause 84, page 79, line 18 [Vol I], leave out from first 'the' to 'all' in line 19 and insert 'lessor remains entitled immediately after the disposal to some or'.
Dawn Primarolo
97
Clause 84, page 79, line 37 [Vol I], leave out from second 'the' to end of line 38 and insert 'lessor remains entitled immediately after the disposal'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
170
*Schedule 11, page 22, line 3 [Vol 2], leave out from beginning to end of line 16.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
171
*Schedule 11, page 22 [Vol 2], leave out lines 8 to 16 and insert—
'(2) Accordingly, in section 432A of ICTA 1988 in subsection (5) (power to extend orders under subsection (3) in relation to periods of account ending before 1st October 2007), substitute "1st October 2006" with "1st October 2007".'.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
172
*Schedule 11, page 29, line 30 [Vol 2], leave out from beginning to end of line 41 on page 30.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
173
*Schedule 11, page 33, line 18 [Vol 2], leave out paragraph 7.
Mrs Theresa Villiers
Mr Mark Francois
Mr Mark Hoban
Mr Paul Goodman
Andrew Selous
179
*Schedule 11, page 33, line 40 [Vol 2], at end insert—
'(3A) Where the line 51 amount for the straddling period is greater than the line 51 amount for any subsequent period, and the line 51 amount is then increased in a period following that subsequent period, the adjustment produced by subsection (3) above shall be reduced by an amount equal to the lower of:
| (a) | the difference between the line 51 amount for the straddling period and the line 51 amount for the current period of account; and |
| (b) | the line 51 amount for the current period of account, and the line 51 amount for the immediately preceding period, |
but the amount computed under this subsection shall be reduced by the total sum of adjustments made in periods prior to the current period of account under this subsection.'.
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