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10 Jun 2008 : Column GC196

Omit section 36 (transfer of property etc. of Urban Regeneration Agency) and the italic heading before it.

Omit section 37 (powers in relation to the Urban Regeneration Agency).

In section 38(10) (corporation tax)—

(a) in the definition of “qualifying transfer” omit paragraph (b), and(b) in the definition of “transfer scheme” for “any of sections 34 to 37” substitute “section 34 or 35”.

In section 39(4)(b) (stamp duty) for “any of sections 34 to 37 and” substitute “section 34 or 35 or”.

Omit Schedule 9 (the Urban Regeneration Agency: transfer schemes).”

Schedule 8, page 191, line 32, at end insert—

“ (1) Section 408 (transfers of property, rights or liabilities) is amended as follows.

(2) In subsection (3) omit paragraphs (h) and (i).

(3) Omit subsection (6).

In section 409 (transfer schemes) omit subsection (5).”

Schedule 8, page 191, line 40, at end insert—

“Finance Act 2003 (c. 14)

The Finance Act 2003 is amended as follows.

In section 71(4) (certain acquisitions by registered social landlord exempt from charge to stamp duty land tax) after paragraph (c) insert—

“(ca) under section 22 of the Housing and Regeneration Act 2008 (financial assistance by the Homes and Communities Agency),”.

(1) Schedule 9 (stamp duty land tax: right to buy, shared ownership leases etc.) is amended as follows.

(2) In paragraph 1(3) for “Commission for the New Towns” substitute “English new towns residuary body”.

(3) After paragraph 1(4) insert—

“(4A) In sub-paragraph (3) “English new towns residuary body” means the Homes and Communities Agency so far as exercising functions in relation to anything transferred (or to be transferred) to it as mentioned in section 54(1)(a) to (d) of the Housing and Regeneration Act 2008.”

(4) In paragraph 5(2) for paragraph (e) substitute—

“(e) the English new towns residuary body (within the meaning given by paragraph 1(4A));”.”

On Question, amendments agreed to.

[Amendment No. 97P not moved.]

Schedule 8, as amended, agreed to.

Clauses 59 to 61 agreed to.

Lord Bassam of Brighton: I was exhausted listening to that. I think that this may be a convenient moment for the Committee to adjourn until tomorrow at 3.45 pm.

The Deputy Chairman of Committees (Lord Faulkner of Worcester): The Committee stands adjourned until tomorrow at 3.45 pm.

The Committee adjourned at 7.39 pm.

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