New Clause. — (Profits on Forced Conversion of Investments.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 10 June 1964.

Alert me about debates like this

Section 434 (2) of the Income Tax Act 1952 shall be amended by the addition of the following paragraph— (d) any exchange of securities effected in pursuance of a scheme of reconstruction or amalgamation under section 208 or 209 of the Companies Act 1948".—[Sir J. Barlow.]

Clause

A parliamentary bill is divided into sections called clauses.

Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.

During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.

When a bill becomes an Act of Parliament, clauses become known as sections.