Clause 11 - Amusement machines: use of currencies other than sterling

Part of Finance Bill – in a Public Bill Committee at 3:00 pm on 15 May 2003.

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Photo of Jonathan Djanogly Jonathan Djanogly Conservative, Huntingdon 3:00, 15 May 2003

I also have a small point. In relation to currencies other than sterling, new section 26A(2) says that the exchange rate

''shall be determined by reference to the London closing exchange rate for the previous day.''

Can the Minister advise us whether that is defined elsewhere in the 1981 Act? If it is not, whatever it is that constitutes the exchange rate should be defined.