The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2008

PART 3 CONSEQUENTIAL AMENDMENTS TO SECONDARY LEGISLATION COMING INTO FORCE ON 6TH APRIL 2008

The Value Added Tax Regulations 1995 (S.I. 1995/2518)

Introduction

43.  The Value Added Tax Regulations 1995 are amended as follows.

Time of supply and time of acquisition: general

44.  In regulation 94B(4)(1) for “section 259 of the Companies Act 1985” substitute “section 1161 of the Companies Act 2006”.

Input tax and partial exemption: adjustment of attribution

45.  In regulation 107E(2)(2) for “section 259 of the Companies Act 1985” substitute “section 1161 of the Companies Act 2006”.

The Insurance Companies (Reserves) (Tax) Regulations 1996 (S.I. 1996/2991)

Interpretation

46.  In regulation 2(2)(a) of the Insurance Companies (Reserves) (Tax) Regulations 1996 for “Part VII of the Companies Act 1985” substitute “Part 15 of the Companies Act 2006”.

The Non-Resident Companies (General Insurance Business) Regulations 1999 (S.I. 1999/1408)

Modifications of the Income and Corporation Taxes Act 1988

47.  In regulation 4 of the Non-Resident Companies (General Insurance Business) Regulations 1999, in section 754AA(11)(a), for “sub-paragraph (4) of paragraph 52 of Schedule 9A to the Companies Act 1985” substitute “sub-paragraph (4) of paragraph 58 of Schedule 3 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008”.

The Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) Regulations 1999 (S.I. 1999/2383)

Interpretation

48.  In regulation 2 of the Stamp Duty Reserve Tax (UK Depositary Interests in Foreign Securities) Regulations 1999, in the definition of “depositary interest”, for “section 207 of the Companies Act 1989 (transfer of securities without written instrument)” substitute “section 785 of the Companies Act 2006 (provision enabling procedures for evidencing and transferring title)”.

The Stamp Duty and Stamp Duty Reserve Tax (Definition of Unit Trust Scheme and Open-ended Investment Company) Regulations 2001 (S.I. 2001/964)

Interpretation

49.  In regulation 2(1) of the Stamp Duty and Stamp Duty Reserve Tax (Definition of Unit Trust Scheme and Open-ended Investment Company) Regulations 2001, in the definition of “qualifying EEA investment company”, for “section 266(2) of the Companies Act 1985” substitute “section 833(2) of the Companies Act 2006”.

The Social Security (Contributions) Regulations 2001 (S.I. 2001/1004)

Definition of “company”

50.  In regulation 1(2) of the Social Security (Contributions) Regulations 2001, in the definition of “company”, for “section 718 of that Act, any provision of that Act” substitute “regulations made under section 1043 of the Companies Act 2006, any provision of those Acts”.

The Tobacco Products Regulations 2001 (S.I. 2001/1712)

Interpretation of Schedule

51.  For paragraph 11 of the Schedule to the Tobacco Products Regulations 2001(3) substitute—

“Interpretation

11.   For the purposes of this Schedule—

(a) “undertaking” has the meaning given by section 1161(1) of the Companies Act 2006, and

(b) “parent undertaking” and “subsidiary undertaking” have the meanings given by section 1162 of that Act.”.

The Non-resident Insurance Companies Regulations 2003 (S.I. 2003/2714)

Interpretation: meaning of “technical provision”

52.  In regulation 3(4) of the Non-resident Insurance Companies Regulations 2003 for “Schedule 9A to the Companies Act 1985” substitute “Schedule 3 to the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008”.

The Value Added Tax (Disclosure of Avoidance Schemes) (Designations) Order 2004 (S.I. 2004/1933)

Interpretation

53.  In regulation 2(5) of the Value Added Tax (Disclosure of Avoidance Schemes) (Designations) Order 2004 for “section 259 of the Companies Act 1985” substitute “section 1161 of the Companies Act 2006”.

The Venture Capital Trust (Winding up and Mergers) (Tax) Regulations 2004 (S.I. 2004/2199)

Mergers of Venture Capital Trusts

54.  In regulation 9(3)(b) of the Venture Capital Trust (Winding up and Mergers) (Tax) Regulations 2004 for “section 117 of the Companies Act 1985” substitute “section 761 of the Companies Act 2006”.

The Registered Pension Schemes (Audited Accounts) Regulations 2005 (S.I. 2005/3456)

Introduction

55.  The Registered Pension Schemes (Audited Accounts) Regulations 2005 are amended as follows.

Specified descriptions of persons

56.  In regulation 2 for paragraph (a) substitute—

“(a) a person specified in section 1212 of the Companies Act 2006 (individuals and firms: eligibility for appointment as a statutory auditor);”.

Circumstances in which a specified person is not to audit scheme accounts

57.  In regulation 3 for “section 27 of the Companies Act 1989” substitute “section 1214 of the Companies Act 2006”.

(1)

Regulation 94B was inserted by S.I. 2003/2318.

(2)

Regulation 107E was inserted by S.I. 2002/1074.

(3)

The Schedule was inserted by S.I. 2006/2368.