Clause 36 - Balancing payments and elections to
Finance Bill
4:30 pm
Mr John Butterfill (Bournemouth West, Conservative)
With this it will be convenient to discuss the following amendments: No. 13, in
clause 36, page 39, line 19, leave out 'The disadvantaged person' and insert
'Any company other than the advantaged person (''the electing company'')'.
No. 14, in
clause 36, page 39, line 20, leave out
'condition in sub-paragraph (3) below is'
and insert
'conditions in both of sub-paragraph (3) and sub-paragraph (3A) below are'.
No. 15, in
clause 36, page 39, line 22, after 'condition', insert 'in this sub-paragraph'.
No. 16, in
clause 36, page 39, line 31, at end insert—
'(3A) The condition in this sub-paragraph is that arrangements are made by the electing company for securing the payment of any tax which, but for the election under this paragraph, would have been payable by the advantaged person in respect of the application of paragraph 1(2) above in relation to the relevant security by virtue of paragraph 1A above and those arrangements are approved by the Board for the purposes of this paragraph.
(3B) If any information furnished by the electing company for the purpose of securing the approval of the Board under sub-paragraph (3A) above does not fully and accurately describe all the facts and considerations material for the decision of the Board under that sub-paragraph, any resulting approval of the Board shall be void.'.
No. 17, in
clause 36, page 39, line 33, leave out 'the disadvantaged person'.
No. 18, in
clause 36, page 39, line 34, after '(a)', insert 'the disadvantaged person'.
No. 19, in
clause 36, page 39, line 36, leave out 'a chargeable period' and insert
'any chargeable period ending on or after the date of the election'.
No. 20, in
clause 36, page 39, line 38, after 'instead', insert 'the electing company'.
No. 21, in
clause 36, page 39, line 39, leave out 'that period' and insert
'any chargeable period ending on or after the date of the election'.
No. 22, in
clause 36, page 40, line 1, leave out 'disadvantaged person' and insert 'electing company'.
No. 23, in
clause 36, page 40, leave out lines 7 to 10 and insert—
'(aa) must be made no later than twelve months from the end of the chargeable period in which the relevant security is issued.'.
No. 24, in
clause 36, page 40, leave out lines 18 to 23.