|
| |
|
(b) | an entity which if it were a UK resident entity which carried on its |
| |
activities in the United Kingdom would be required to be an |
| |
| |
(3) | A deposit is “non-protected” so far as it is not a protected deposit for the |
| |
purposes of paragraph 29. |
| 5 |
(4) | For the purposes of this paragraph— |
| |
(a) | “deposit” has the meaning given by article 5(2) of the Financial |
| |
Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. |
| |
| |
(b) | in relation to a deposit held in a territory outside the United |
| 10 |
Kingdom, the exclusions in articles 6 to 9AB of that Order apply with |
| |
whatever modifications are appropriate to achieve the following |
| |
| |
(5) | The purpose is that the exclusions are to cover, essentially, the same matters |
| |
in relation to the territory concerned as they cover in relation to the United |
| 15 |
| |
76 | Paragraphs 73 to 75 are subject to Step 6 in paragraph 24(1). |
| |
| |
77 (1) | “Relevant foreign bank” means an entity which— |
| |
(a) | is a non-UK resident entity, |
| 20 |
(b) | is an authorised person for the purposes of FISMA 2000 (see section |
| |
| |
(c) | is an entity which carries on a trade in the United Kingdom through |
| |
a permanent establishment in the United Kingdom and— |
| |
(i) | whose activities include the relevant regulated activity |
| 25 |
described in the provision mentioned in paragraph 78(a), or |
| |
(ii) | which is both a BIPRU 730k firm and a full scope BIPRU |
| |
investment firm, whose activities consist wholly or mainly of |
| |
any of the relevant regulated activities described in the |
| |
provisions mentioned in paragraph 78(b) to (f), |
| 30 |
(d) | carries on that relevant regulated activity, or those relevant |
| |
regulated activities, wholly or mainly in the course of that trade, |
| |
(e) | meets the capital resources condition, and |
| |
(f) | is not an excluded entity. |
| |
(2) | “Relevant foreign bank” also includes an entity which— |
| 35 |
(a) | meets the conditions in sub-paragraph (1)(a) and (f), and |
| |
(b) | is a member of a partnership which meets the conditions in |
| |
paragraph 79(1)(b) to (e). |
| |
“Relevant regulated activity” |
| |
78 | “Relevant regulated activity” means an activity which is a regulated activity |
| 40 |
for the purposes of FISMA 2000 by virtue of any of the following provisions |
| |
of the Financial Services and Markets Act 2000 (Regulated Activities) Order |
| |
| |
(a) | article 5 (accepting deposits), |
| |
(b) | article 14 (dealing in investments as principal), |
| 45 |
|
| |
|
| |
|
(c) | article 21 (dealing in investments as agent), |
| |
(d) | article 25 (arranging deals in investments), |
| |
(e) | article 40 (safeguarding and administering investments), and |
| |
(f) | article 61 (entering into regulated mortgage contracts). |
| |
| 5 |
79 (1) | “UK resident bank” means an entity which— |
| |
(a) | is a UK resident entity, |
| |
(b) | is an authorised person for the purposes of FISMA 2000 (see section |
| |
| |
| 10 |
(i) | whose activities include the relevant regulated activity |
| |
described in the provision mentioned in paragraph 78(a), or |
| |
(ii) | which is both a BIPRU 730k firm and a full scope BIPRU |
| |
investment firm, whose activities consist wholly or mainly of |
| |
any of the relevant regulated activities described in the |
| 15 |
provisions mentioned in paragraph 78(b) to (f), |
| |
(d) | carries on that relevant regulated activity, or those relevant |
| |
regulated activities, wholly or mainly in the course of trade, |
| |
(e) | meets the capital resources condition, and |
| |
(f) | is not an excluded entity. |
| 20 |
(2) | “UK resident bank” also includes an entity which— |
| |
(a) | meets the conditions in sub-paragraph (1)(a) and (f), and |
| |
(b) | is a member of a partnership which meets the conditions in sub- |
| |
| |
| 25 |
Power to make consequential changes |
| |
80 (1) | The Treasury may, by order made by statutory instrument, make such |
| |
amendments of this Schedule as they consider appropriate in consequence |
| |
| |
(a) | any change made to or replacement of the Financial Services and |
| 30 |
Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) |
| |
| |
(b) | any change made to the FSA Handbook, or |
| |
(c) | any change in international accounting standards, UK GAAP or US |
| |
| 35 |
(2) | An order under this paragraph may have retrospective effect in relation to— |
| |
(a) | any chargeable period in which the order is made, or |
| |
(b) | in the case of an order made on or before 31 December 2011, any |
| |
chargeable period ending on or after 1 January 2011. |
| |
(3) | A statutory instrument containing an order under this paragraph is subject |
| 40 |
to annulment in pursuance of a resolution of the House of Commons. |
| |
|
| |
|
| |
|
| |
| |
Supplies of commodities to be used in producing electricity |
| |
1 | Schedule 6 to FA 2000 (climate change levy) is amended as follows. |
| |
2 | In paragraph 6 (supplies of gas), after sub-paragraph (1) insert— |
| |
“(1A) | In relation to a supply which is within sub-paragraph (1B) but not |
| 5 |
| |
(a) | in sub-paragraph (1)(a) the reference to a gas utility is to be |
| |
read as including a reference to an unregulated gas |
| |
supplier (within the meaning of paragraph 151), and |
| |
(b) | in relation to a supply made by an unregulated gas |
| 10 |
| |
(i) | sub-paragraph (1) has effect as if paragraph (b)(ii) |
| |
| |
(ii) | in paragraph 40(2)(b) the reference to a utility is to |
| |
be read as including a reference to an unregulated |
| 15 |
| |
(1B) | A supply is within this sub-paragraph if it is a supply of any gas |
| |
to a person to be used by that person in producing electricity. |
| |
(1C) | A supply is within this sub-paragraph if it is a supply of any gas |
| |
to a person who intends to cause the gas to be used in— |
| 20 |
(a) | a fully exempt combined heat and power station, or |
| |
(b) | a partly exempt combined heat and power station, |
| |
| in producing any outputs of the station. |
| |
| For this purpose “outputs” has the meaning given by paragraph |
| |
| 25 |
3 (1) | Paragraph 14 (exemption: supplies (other than self-supplies) to electricity |
| |
producers) is amended as follows. |
| |
(2) | In sub-paragraph (1), for “a taxable commodity” substitute “electricity”. |
| |
(3) | In sub-paragraphs (1)(a), (2)(b) and (3)(b), for “commodity” substitute |
| |
| 30 |
4 | In paragraph 21 (regulations to avoid double charges to levy), after sub- |
| |
| |
“(2A) | In sub-paragraph (2)(b) “taxable supply” does not include a |
| |
taxable supply subject to the carbon price support rates (see |
| |
| 35 |
5 | In paragraph 42 (amount payable by way of levy), before sub-paragraph (2) |
| |
| |
“(1B) | Sub-paragraph (1) does not apply to a taxable supply subject to the |
| |
carbon price support rates (see paragraph 42A).” |
| |
6 | After paragraph 42 insert— |
| 40 |
“42A (1) | This paragraph applies if a taxable supply is subject to the carbon |
| |
| |
|
| |
|
| |
|
(2) | A supply is subject to the carbon price support rates if— |
| |
(a) | it is a supply of a taxable commodity, apart from |
| |
electricity, to a person to be used by that person in |
| |
producing electricity, and |
| |
(b) | it is not within sub-paragraph (3). |
| 5 |
(3) | A supply is within this sub-paragraph if it is a supply of a taxable |
| |
commodity to a person who intends to cause the commodity to be |
| |
| |
(a) | a fully exempt combined heat and power station, or |
| |
(b) | a partly exempt combined heat and power station, |
| 10 |
| in producing any outputs of the station. |
| |
| For this purpose “outputs” has the meaning given by paragraph |
| |
| |
(4) | The amount payable by way of levy on the taxable supply is the |
| |
amount ascertained by applying the relevant carbon price support |
| 15 |
rate; and the levy payable on a fraction of a quantity of a |
| |
commodity is that fraction of the levy payable on that quantity of |
| |
| |
(5) | The carbon price support rates are as follows. |
| |
|
(6) | The Commissioners may by regulations make provision for giving |
| |
effect to this paragraph. |
| |
(7) | Regulations under sub-paragraph (6) may, in particular, include |
| |
provision for determining whether or not a taxable supply is |
| |
subject to the carbon price support rates.” |
| 40 |
7 | In paragraph 101 (civil penalties: incorrect certificates), in sub-paragraph |
| |
| |
(a) | omit the “or” after sub-paragraph (ii), and |
| |
(b) | omit the “and” at the end of sub-paragraph (iv) and after that sub- |
| |
|
| |
|
| |
|
| |
(v) | a taxable supply (or taxable supplies) |
| |
subject to the carbon price support rates, |
| |
| |
8 (1) | Subject to what follows, the amendments made by paragraphs 1 to 7 above |
| 5 |
have effect in relation to supplies treated as taking place on or after 1 April |
| |
| |
(2) | Sub-paragraph (3) applies to a supply to a person (“the customer”) which— |
| |
(a) | is of the description mentioned in paragraph 26(1)(b) of Schedule 6 |
| |
to FA 2000 (gas in gaseous state), and |
| 10 |
(b) | is not treated as taking place before 23 March 2011. |
| |
(3) | The amendments made by paragraphs 1 to 7 above have effect in relation to |
| |
the gas supplied so far as it is actually supplied to the customer on or after 1 |
| |
| |
9 (1) | This paragraph applies for the purposes of Schedule 6 to FA 2000 if— |
| 15 |
(a) | an invoice is issued, or a payment is received, before 1 April 2013 in |
| |
respect of the supply to a person (“the customer”) of a taxable |
| |
| |
(b) | the supply is not of the description mentioned in paragraph 26(1)(b) |
| |
of Schedule 6 (gas in gaseous state), |
| 20 |
(c) | if the supply were to be treated as taking place on 1 April 2013, it |
| |
would be a taxable supply subject to the carbon price support rates |
| |
(see paragraph 42A of Schedule 6 as inserted by paragraph 6 above), |
| |
(d) | a quantity of the taxable commodity is not delivered to the customer |
| |
| 25 |
(e) | the invoicing or payment in advance of delivery is not acceptable |
| |
| |
| (It does not matter whether the invoice mentioned in paragraph (a) is, or is |
| |
not, a climate change levy accounting document.) |
| |
(2) | If the supply would otherwise be treated as taking place before 1 April 2013, |
| 30 |
and not be a taxable supply, the supply is treated as taking place on that |
| |
| |
(3) | The quantity of the taxable commodity treated as supplied on 1 April 2013 |
| |
is the quantity to which sub-paragraph (1)(d) applies. |
| |
(4) | For the purposes of this paragraph invoicing or payment in advance of |
| 35 |
delivery is “acceptable normal practice” if— |
| |
(a) | the supply is of a kind in the case of which it is normal practice for |
| |
invoices to be issued, or payments to be made, in respect of taxable |
| |
commodities before they are delivered to the person (“the |
| |
customer”) to whom they are being supplied, |
| 40 |
(b) | the practice does not involve issuing invoices, or making payments, |
| |
more than 15 weeks in advance of the taxable commodities, in |
| |
respect of which the invoice is issued or payment is made, being |
| |
delivered to the customer, and |
| |
(c) | the advance invoicing or payment is in accordance with that practice. |
| 45 |
(5) | This paragraph does not apply in relation to supplies treated as taking place |
| |
| |
|
| |
|