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Broadcasting Act 1996
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Changes to legislation:
Broadcasting Act 1996, Paragraph 10 is up to date with all changes known to be in force on or before 30 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 7 Paragraph 10:
- s. 97(1)-(2A) substituted for s. 97(1)(2) by 2003 c. 21 s. 299(1) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
- s. 97(5A)(5B) inserted by 2003 c. 21 s. 299(4) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
- s. 101(1)-(1D) substituted for s. 101(1) by 2003 c. 21 s. 300(2) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
- specified provision(s) amendment to earlier commencing SI 2003/3142 art. 4 Sch. 2 by S.I. 2004/545 art. 2
Changes and effects yet to be applied to the whole Act associated Parts and Chapters:
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 97(1)-(2A) substituted for s. 97(1)(2) by 2003 c. 21 s. 299(1) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
- s. 97(5A)(5B) inserted by 2003 c. 21 s. 299(4) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
- s. 101(1)-(1D) substituted for s. 101(1) by 2003 c. 21 s. 300(2) (Ss. 299(1)(3)(4), 300 were due to be commenced on 30.6.2004 by S.I. 2003/3142, art. 4(3), but that commencing provision was omitted (8.6.2004) by virtue of S.I. 2004/1492, art. 2)
10(1)Subsection (4) of section 23 of the Gains Act (adjustments where compensation or insurance money used for purchase of replacement asset) shall have effect in accordance with sub-paragraph (3) in any case where—U.K.
(a)there is a relevant transfer such that—
(i)a capital sum received by the BBC by way of compensation for the loss or destruction of an asset, or under a policy of insurance of the risk of the loss or destruction of an asset, becomes available to the transferee; or
(ii)a right of the BBC to receive such a sum is transferred to the transferee, and the transferee receives that sum; and
(b)the transferee acquires an asset in circumstances where—
(i)had there been no such relevant transfer, and
(ii)had the BBC acquired the asset by the application of that sum,
the BBC would be treated for the purposes of that subsection as having so acquired the asset in replacement for the asset lost or destroyed.
(2)Subsection (5) of that section (adjustments where a part of any compensation or insurance money is used for the purchase of a replacement asset) shall have effect in accordance with sub-paragraph (3) in any case where—
(a)there is a relevant transfer such that—
(i)a capital sum received by the BBC by way of compensation for the loss or destruction of an asset, or under a policy of insurance of the risk of the loss or destruction of an asset, becomes available to the transferee; or
(ii)a right of the BBC to receive such a sum is transferred to the transferee, and the transferee receives that sum; and
(b)the transferee acquires an asset in circumstances where—
(i)had there been no such relevant transfer, and
(ii)had the BBC acquired the asset by the application of all of that sum except for a part which was less than the amount of the gain (whether all chargeable gain or not) accruing on the disposal of the asset lost or destroyed,
the BBC would be treated for the purposes of that subsection as having so acquired the asset in replacement for the asset lost or destroyed.
(3)In a case falling within sub-paragraph (1) or (2) of this paragraph, subsection (4) or, as the case may be, subsection (5) of section 23 of the Gains Act shall have effect as if the transferee and the BBC were the same person, except that—
(a)in a case falling within sub-paragraph (1)(a)(i) or (2)(a)(i)—
(i)any claim under the subsection in question must be made by the BBC and the transferee; and
(ii)any adjustment to be made in consequence of paragraph (a) of that subsection shall be made for the purposes only of the taxation of the BBC; and
(b)in a case falling within sub-paragraph (1)(a)(ii) or (2)(a)(ii)—
(i)any claim under the subsection in question must be made by the transferee; and
(ii)any adjustment to be made in consequence of paragraph (a) of that subsection shall be made for the purposes only of the taxation of the transferee.
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