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S.C.A.

267

 
 

House of Commons

 
 

Thursday 25th May 2006

 

Standing Committee Proceedings

 

Standing Committee A

 

Finance (No. 2) Bill


 

(except Clauses 13 to 15, 26, 61, 91 and 106, Schedule 14, and new Clauses relating to the effect


 

of provisions of the Bill on section 18 of the Inheritance Tax Act 1984)


 

[Eleventh Sitting]


 

Clause 81 Agreed to.

 


 

Mrs Theresa Villiers

 

Mr Mark Francois

 

Mr Mark Hoban

 

Mr Paul Goodman

 

Andrew Selous

 

Withdrawn  187

 

Schedule  8,  page  202,  line  23  [Vol  I],  leave out from ‘if’ to ‘the in line 24.

 

Mrs Theresa Villiers

 

Mr Mark Francois

 

Mr Mark Hoban

 

Mr Paul Goodman

 

Andrew Selous

 

Not called  188

 

Schedule  8,  page  213,  line  25  [Vol  I],  leave out from ‘is’ to ‘that’ in line 26.

 

Dawn Primarolo

 

Agreed to  112

 

Schedule  8,  page  214  [Vol I],  leave out lines 4 and 5.

 

Dawn Primarolo

 

Agreed to  190

 

Schedule  8,  page  214,  line  9  [Vol I],  at end insert—

 

‘(4)    

The first order made under this section may include provisions having effect in

 

relation to times before the making of the order (but not times earlier than 1st

 

April 2006).’.


 
 

S.C.A.    Standing Committee Proceedings: 25th May 2006            

268

 

Finance (N, continued

 
 

Mrs Theresa Villiers

 

Mr Mark Francois

 

Mr Mark Hoban

 

Mr Paul Goodman

 

Andrew Selous

 

Not called  189

 

Schedule  8,  page  215,  line  19  [Vol  I],  leave out from ‘if’ to second ‘the in line

 

20.

 

Dawn Primarolo

 

Agreed to  113

 

Schedule  8,  page  216,  line  6  [Vol I],  after ‘lease’ insert ‘(“the new lease”)’.

 

Dawn Primarolo

 

Agreed to  114

 

Schedule  8,  page  217,  line  11  [Vol I],  after ‘lease’ insert ‘(“the new lease”)’.

 

Dawn Primarolo

 

Agreed to  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

 

Agreed to  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

 

Not called  163

 

Schedule  8,  page  246,  line  2  [Vol  I],  leave out ‘April’ and insert ‘September’.

 

Dawn Primarolo

 

Agreed to  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

 

(b)    

’.

 

Mrs Theresa Villiers

 

Mr Mark Francois

 

Mr Mark Hoban

 

Mr Paul Goodman

 

Andrew Selous

 

Not called  164

 

Schedule  8,  page  246,  line  6  [Vol  I],  leave out ‘April’ and insert ‘September’.


 
 

S.C.A.    Standing Committee Proceedings: 25th May 2006            

269

 

Finance (N, continued

 
 

Dawn Primarolo

 

Agreed to  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.

 

            

In this sub-paragraph—

 

“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.

 

            

In this sub-paragraph—

 

“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.’.

 

Schedule, as amended, Agreed to.

 



 
 

S.C.A.    Standing Committee Proceedings: 25th May 2006            

270

 

Finance (N, continued

 
 

Mrs Theresa Villiers

 

Mr Mark Francois

 

Mr Mark Hoban

 

Mr Paul Goodman

 

Andrew Selous

 

Withdrawn  185

 

Schedule  9,  page  258,  line  1 [Vol I],  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

 

Question proposed  165

 

Schedule  9,  page  260 [Vol I],  leave out lines 17 to 31.

 

Debate adjourned—(Mr John Heppell.)

 

[Adjourned till Tuesday 6th June at 10.30 a.m.


 
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