SCHEDULES
SCHEDULES 1–4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
SCHEDULE 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
Sch. 5 repealed by Finance Act 1968 (c. 44), s. 61(10), Sch. 20 Pt. I and Vehicles (Excise) Act 1971 (c. 10), s. 39(5), Sch. 8 Pt. I
SCHEDULES 6–9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
Schs. 6–10 repealed (except Sch. 10 para. 15) by Capital Gains Tax Act 1979 (c. 14, SIF 63:2), ss. 157, 158, Sch. 8 and Sch. 10 para. 15 repealed by S.I. 1980/561 (N.I. 4), Sch. 3 and also expressed to be repealed (E.W.) in part by Insolvency Act 1985 (c.65, SIF 66), s. 235(2)(3), Sch. 9 para. 11, Sch. 10 Pt. III and (S.) by Bankruptcy (Scotland) Act 1985 (c.66, SIF 66), s. 78(2), Sch. 8
SCHEDULE 10 Capital Gains : Administration
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4
15 Priority of tax in bankruptcy
1
In a bankruptcy under the law of any part of the United Kingdom capital gains tax and corporation tax shall each have the same priority as income tax.
2
In the application of this Part of this Act to Northern Ireland the reference in this paragraph to priority in bankruptcy includes a reference to any other priority given to income tax under the Bankruptcy Acts (Northern Ireland) 1857 to 1964.
16
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
SCHEDULES 11–14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
Schs. 11–14 repealed (with savings for Sch. 11 para. 9(1)(a)) by Income and Corporation Taxes Act 1970 (c. 10), ss. 537(1), 538(1), 539(1), Sch. 14 para. 12, Sch. 16
SCHEDULE 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
Sch. 15 repealed (with savings for Sch. 15 Pt. II) by Income and Corporation Taxes Act 1970 (c. 10), ss. 537(1), 538(1), 539(1), Sch. 14 para. 9(2)(f), Sch. 16 (and Sch. 15 para. 25 saved by Income and Corporation Taxes Act 1988 (c. 1), s. 844, Sch. 30 para. 6(2)(f))
SCHEDULE 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
Sch. 16 repealed (with saving for Sch. 16 para. 7 by Income and Corporation Taxes Act 1988 (c. 1), s. 844, Sch. 30 para. 6(2)(g)) by Income and Corporation Taxes Act 1970 (c. 10), ss. 537(1), 538(1), 539(1), Sch. 14 para. 9(2)(g), Sch. 16
SCHEDULES 17–19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
Schs. 17–19 repealed (with saving for Sch. 18 para. 6(3)) by Income and Corporation Taxes Act 1970 (c. 10), ss. 537(1), 538(1), 539(1), Sch. 14 para. 14(2)(a), Sch. 16
SCHEDULE 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10
Sch. 20 repealed by Income and Corporation Taxes Act 1988 (c. 1), s. 844, Sch. 31
F11SCHEDULE 21
Sch. 21 repealed (3.5.1994) by s. 258, SCh. 26 Pt. V (22)
1
1
Except in so far as the context otherwise requires, references in section 87 of this Act (“the principal section”) and in this Schedule to a company ceasing to possess a source of income shall, in relation to a trade, include the company ceasing in respect of the trade to be within the charge to corporation tax under Case I or II of Schedule D; and references to a company carrying on a trade or any part or activities of a trade are references to its doing so in such circumstances as to be within that charge to tax.
2
For purposes of the principal section the cessation period in relation to a trade shall be taken to be three years, notwithstanding that the trade has been carried on for less than three years before the year 1966-67; but where the appropriate fraction (that is to say in this Schedule, the appropriate fraction under subsection (2)(b) of the principal section) is to be applied to income from a trade which has been carried on by the company for a period less than three years, the appropriate fraction shall be increased in the proportion which a period of three years bears to that less period
3
For purposes of the principal section, section 80(8) of this Act shall apply in relation to the whole period after the trade was set up and commenced (or is to be treated under section 19 of the Finance Act 1953 as having been set up and commenced) as, for other purposes of corporation tax, it applies from the end of the basis period for the year 1965-66, but (notwithstanding anything in section 80(8)) any allowance to the company in respect of the trade, in so far as it cannot be given to the company, shall be given to the company’s predecessors.
2
1
The following sub-paragraphs shall apply to the computation of a company’s income from a trade for the purposes of the principal section.
2
No regard shall be had—
a
to any allowance or charge falling to be made in taxing the trade . . . F12; or
b
to any restriction on the deductions that may be made for directors’ remuneration.
3
In determining what the taxed income from the trade would have been if the company had ceased to possess the trade as a source of income at the end of the year 1965-66 the computation shall be made, if need be, by division and apportionment or aggregation of income for accounting periods, including any period extending beyond the end of that year, and without regard to the operation of any enactment which would affect the computation on an actual discontinuance of the trade except section 130(1) of the Income Tax Act 1952, with any enactment amending it . . . F12.
4
Where the taxed income referred to in subsection (1) of the principal section (whether the actual income or the income as on a cessation) falls to be ascertained partly by reference to a period in which the company incurred a loss in the trade, that income shall be ascertained as if there had been no such loss (nor any income) in that period; but in ascertaining for purposes of subsection (2)(b) the taxed income for any period losses incurred in that period and any part of a loss apportionable to that period shall be deducted from income.
3
1
If a company on ceasing at any time to possess a trade as a source of income continues to carry on any of the activities of the trade as activities of another trade, the company shall be disentitled as at that time to such part of the allowance in respect of the first-mentioned trade as is referable to those activities.
2
Where within two years after the time when a company ceases to possess a trade as a source of income—
a
the trade or any part of it is carried on by the company or by an associated company; or
b
the activities of the trade or part of them are carried on by an associated company as activities of another trade;
the company shall be disentitled as from that time to the allowance in respect of the first-mentioned trade:
Provided that where this sub-paragraph applies by reason only of part of the trade or part of its activities being carried on by an associated company the company shall be so disentitled only to such part of the allowance as is referable to that part of the trade or activities.
3
Where a company ceases at any time to carry on part of a trade, and within two years after that time that part of the trade or the activities of it are carried on by an associated company as its trade or part of its trade, the company shall be treated as having been, as from that time, disentitled to such part of any allowance in respect of the trade as is referable to that part of the trade or those activities.
4
Where by reason of a company carrying on a trade or part of a trade, or carrying on any activities in the course of a trade, that company or another company becomes disentitled to an allowance or part of an allowance, the allowance shall attach or remain attached to that trade (whether or not in the year 1965-66 that trade was being carried on by that company or at all).
5
Where under sub-paragraph (4) above an allowance or part of an allowance in respect of a trade attaches to another trade, the allowance or that part of it shall, except as regards amount, be treated for all purposes as an allowance in respect of the trade, but the amount shall not be affected except as follows:—
a
the appropriate fraction shall be applied to the taxed income from that other trade, and subsection (2) proviso of the principal section shall apply to the other trade; and
b
the aggregate amount of the allowances to be given in respect of the trade on a company ceasing to possess it as a source of income, if there are more than one such allowance, shall not exceed the amount specified by subsection (2)(b) of the principal section for that one of the allowances having the highest appropriate fraction.
6
For purposes of this paragraph the part of an allowance referable to any part of a trade or to any activities of a trade shall be determined, in relation to an event occurring at any time, by taking the amount of the allowance (as if on the company ceasing at that time to possess the trade as a source of income) and by apportioning that amount between that part or those activities of the trade and the remainder, according to the proportions in which the taxed income of the company from the trade is attributable thereto during the period of three years ending with that event (or any less period during which the company has carried on the trade), or, if there is no such taxed income, then by apportioning it in such other manner as may in the circumstances be just; but for determining the part of the allowance which is attached to a trade after that event the amount of the allowance shall be taken without regard to paragraph (b) of or the proviso to subsection (2) of the principal section.
7
Where under this paragraph a company becomes disentitled to an allowance or part of an allowance after the allowance or that part of it has been given to it or to another company, the allowance or part so given shall be withdrawn to the extent necessary to give effect to this paragraph.
C28
For purposes of this paragraph, a company is to be treated as another’s “associated company” at a given time if at that time, or at any time within one year before or two years afterwards, one of the two has control of the other or both are under the control of the same person or persons . . . F13
C1SCHEDULE 22 Repeals
The text of Sch. 22 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991
Part I Customs and Excise Repeals
Chapter | Short Title | Extent of Repeal |
|---|---|---|
6 & 7 Eliz. 2. c. 6. | The Import Duties Act 1958. | In section 7, in subsection (1)(b) the word “special”, and in subsection (3), the words from the beginning to “control; an d”. |
In Schedule 5, paragraph 2(b). | ||
8 & 9 Eliz. 2. c. 44. | The Finance Act 1960. | Section 10(2). |
10 & 11 Eliz. 2. c. 13. | The Vehicles (Excise) Act 1962. | In Schedule 1, in Part I, paragraph 1(b) together with the word “but” at the end of paragraph 1(a). |
In Schedule 4, in Part I, in paragraph 2(d) the words “of which the unladen weight exceeds twelve hundredweight and”, paragraph 4(2) and in paragraph 7(1) the definitions of “local authority’s watering vehicle” and of “showman’s trailer”. | ||
1964 c. 49. | The Finance Act 1964. | Section 8(1). |
The above repeal in Schedule 1 to the Vehicles (Excise) Act 1962 does not affect licences taken out before 7th April 1965; and the repeal in Schedule 4 to that Act of the definition of “local authority’s watering vehicle” has effect as from 7th April 1965.
Part II Income Tax Repeals
Chapter | Short Title | Extent of Repeal |
|---|---|---|
15 & 16 Geo. 6 & 1 Eliz. 2. c. 10. | The Income Tax Act 1952. | Section 220(5)(c) together with the word “and” at the end of paragraph (b). |
In section 377, subsection (2), in subsection (3) the words “contribution” and “employer’s contribution” and subsection (4). | ||
In section 415(1), paragraphs (a), (b) and (c) and the proviso. | ||
5 & 6 Eliz. 2. c. 49. | The Finance Act 1957. | In section 14, subsection (1)(d) and subsection (2)(b)(ia). |
8 & 9 Eliz. 2. c. 44. | The Finance Act 1960. | Section 19. |
Schedule 3. | ||
1963 c. 25. | The Finance Act 1963. | In section 12, subsections (1) and (4), in subsection (6) the words from “and in the said subsection (2)” to the end, and subsection (8). |
In section 41, in subsection (1) the words “initial and”, subsection (2), in subsection (4)(a) the words from “increased” to the end and in subsection (4)(b) the words from “unless” to the end, and in subsection (7) the words “initial and”. | ||
Schedule 3. | ||
1964 c. 49. | The Finance Act 1964. | Section 14. |
1
The above repeals shall have effect as respects tax for the year 1965–66 and subsequent years of assessment.
2
The above repeals in section 415(1) of the Income Tax Act 1952 shall not affect settlements made before 7th April 1965.
3
The above repeals in section 41 of the Finance Act 1963 shall not affect initial allowances in respect of expenditure incurred before 7th April 1965 or such expenditure as is mentioned in subsection (2) of section 13 of this Act, nor other allowances, or charges, in respect of vehicles the expenditure on the provision of which was incurred before that date or is such expenditure as is mentioned in that subsection.
Part III Case VII of Schedule D
Session and Chapter | Short Title | Extent of Repeal |
|---|---|---|
10 & 11 Eliz. 2. c. 44. | The Finance Act 1962. | In section 10(1) proviso, the words “except in so far as provision to the contrary is made by section 14 of this Act”, and in section 10(2), the words “Except for the purposes of section 14 of this Act”. |
In section 11(1), the words from “with the exception” to the end of the subsection, section 11(2)(4)(5) and in section 11(7), the words “(4) or (5)” and the words “or (4)”. | ||
In section 12(8) the words “except as provided by section 14 of this Act”. | ||
Section 14. | ||
In section 15(1), the words from “or to any such” to “1952” and section 15(4)(5)(7). | ||
In Schedule 9— | ||
paragraph 3(4), and in paragraph 3(5) the words “or Association” (twice), | ||
in paragraph 5(4) the words from “nor shall” to the end of the sub-paragraph, | ||
paragraph 6(2), | ||
in paragraph 6(3), the words “or a company disposes of an asset to a person having control of the company”, | ||
paragraph 12(3)(4), | ||
in paragraph 14(3), the words “the foregoing provision shall not affect any charge under section 14 of this Act and”, | ||
paragraph 17(4). |
The above repeals do not have effect in relation to an acquisition and disposal if the acquisition or disposal, whichever is the earlier, occurred before the beginning of the year 1965–66, and the repeal of section 14 of the Finance Act 1962, and of the references in that Act to that section, does not have effect where the relevant land of the land-owning company mentioned in that section was acquired by that company before 6th April 1965.
Part IV Repeals related to Corporation Tax etc.
Session and Chapter | Short Title | Extent of Repeal |
|---|---|---|
3 & 4 Geo. 6. c. 29. | The Finance Act 1940. | Section 49, except as provided by section 88(1) of this Act. |
7 & 8 Geo. 6. c. 23. | The Finance Act 1944. | Sections 37 and 39, except as provided by section 88(1) of this Act. |
15 & 16 Geo. 6. & 1 Eliz. 2. c. 10. | The Income Tax Act 1952. | Section 153(3) and (4). |
Section 171. | ||
Sections 184 to 186. | ||
Section 199(1)(d), together with “and” at the end of paragraph (c). | ||
Section 201. | ||
Section 245. | ||
In section 246 subsection (1) and the proviso to subsection (2). | ||
Section 247 (except as applied by section 28(8) of the Finance Act 1960). | ||
Section 248(1). | ||
Section 249(2)(c). | ||
In section 250 subsection (1) and in subsection (3) the words “under this section”. | ||
Sections 251 to 257. | ||
In section 258, in subsection (1) the words “in the case of an investment company”, subsection (2), and subsection (3) from the beginning to the words “Provide d that”. | ||
In section 259(1), in subsection (1) the words from the beginning to “investment company” and the words “under section 248 of this Act”, and subsection (2). | ||
Section 260(5). | ||
Sections 261, 262 and 263. | ||
In section 264 the word “investment” in both places. | ||
Section 277(1). | ||
Section 316(3). | ||
Section 322(4). | ||
In section 333(1) the words “Part I of the Eleventh Schedule to this Act and to”. | ||
Section 350. | ||
In section 351(1) the words “and for carrying out the provisions of the last preceding section”, and paragraph (b), together with the “and” at the end of paragraph (a). | ||
Section 425, except subsection (6). | ||
Section 426(3). | ||
Section 428. | ||
Section 438. | ||
Section 443. | ||
Sections 454 and 455. | ||
In section 484, in subsection (1) the words from “of the person” to “assets and” and the word “respectively”, and in subsection (2) the words “of any such owne r or”. | ||
Sections 493 and 494. | ||
Section 508(2). | ||
Schedule 11. | ||
In Schedule 16, in paragraph 5(2) the words “otherwise than under section 184 of this Act”, and paragraph 11. | ||
Schedule 22, Part II. | ||
15 & 16 Geo. 6. & 1 Eliz. 2. c. 33. | The Finance Act 1952. | Section 22(5). |
Section 25(2). | ||
Section 27(3). | ||
Section 68. | ||
1 & 2 Eliz. 2. c. 34. | The Finance Act 1953. | Section 17(3). |
In section 20, in subsection (2), the words “by deduction or otherwise”, and subsections (5), (7) and (11). | ||
2 & 3 Eliz. 2. c. 44. | The Finance Act 1954. | In section 17, subsections (1), (2), (3), (8) and (9), except as respects any relevant change occurring before the year 1966–67. |
Section 19. | ||
In section 30(3) the words from “and in their estimation” onwards. | ||
Schedule 3, except as respects any relevant change occurring before the year 1966–67. | ||
4 & 5 Eliz. 2. c. 17. | The Finance (No. 2) Act 1955. | Section 4. |
Schedule 3. | ||
4 & 5 Eliz. 2. c. 54. | The Finance Act 1956. | In section 17(4), the words from “and” onwards. |
Section 18. | ||
In section 24, in subsection (2) the words from the beginning to “management; and”, and subsection (5) from “and” onwards. | ||
Section 25. | ||
5 & 6 Eliz. 2. c. 49. | The Finance Act 1957. | Sections 23 to 37. |
Schedule 4 except paragraph 4. | ||
Schedules 5 to 8. | ||
6 & 7 Eliz. 2. c. 56. | The Finance Act 1958. | Sections 18 and 19. |
In Schedule 6 paragraph 2(e). | ||
6 & 7 Eliz. 2. c. 58. | The Finance Act 1959. | In section 23(5), the words from “or at the time” to “reconstructions)” and the words “and which is not such a relevant change as aforesaid”. |
Section 24(4) and (5)(b). | ||
In section 26, in subsection (1), the words “or paragraph 3 of the Third Schedule to the Finance Act 1954”, and subsections (2) to (4). | ||
8 & 9 Eliz. 2. c. 44. | The Finance Act 1960. | In section 20, in the proviso to subsection (1), the words from “a local authority” to “or by”, and subsection (2). |
In section 25(4) proviso, paragraph (a) from “and” onwards. | ||
In section 72, in subsection (4), paragraph (a) and in paragraph (b) the words from the beginning of sub-paragraph (i) to the words “Schedule D” in sub-paragraph (ii), subsection (8) from “(except” onwards, subsection (9) and in subsection (11) the definition of “management expenses claim”. | ||
9 & 10 Eliz. 2. c. 36. | The Finance Act 1961. | Section 29. |
10 & 11 Eliz. 2. c. 44. | The Finance Act 1962. | Section 19. |
Section 20. | ||
1963 c. 25. | The Finance Act 1963. | Section 45. |
In Schedule 12, paragraph 14, paragraph 18(3) and paragraph 18(5) from the beginning to “thereof”. | ||
1964 c. 37. | The Income Tax Management Act 1964. | In Schedule 2 the entries relating to sections 201, 249(2)(c), 262(5), 425, 438, 443 and 455 of the Income Tax Act 1952 and to the Finance Act 1957. |
In Schedule 4, in Part I of the Table, the entries relating to the Finance (No. 2) Act 1955 and the Finance Act 1957. | ||
1964 c. 49. | The Finance Act 1964. | Section 15. |
Section 16(1)(b). |
The above repeals shall not affect the operation of any enactment in relation to the year 1965–66 or earlier years of assessment.
Part V Profits Tax Repeals
Chapter | Short Title | Extent of Repeal |
|---|---|---|
1 Edw. 8. & 1 Geo. 6. c. 54. | The Finance Act 1937. | Part III so far as unrepealed. |
Schedules 4 and 5. | ||
1 & 2 Geo. 6. c. 46. | The Finance Act 1938. | In section 42, subsections (4) to (6). |
Section 43. | ||
Schedule 4 Part II. | ||
2 & 3 Geo. 6. c. 41. | The Finance Act 1939. | Section 36. |
3 & 4 Geo. 6. c. 29. | The Finance Act 1940. | Section 40(2). |
3 & 4 Geo. 6. c. 48. | The Finance (No. 2) Act 1940. | In section 14(1), the words “or paragraph 4 of the Fourth Schedule to the Finance Act 1937”, the words “or the national defence contribution” and the words “and subsection (1) of section 20 of the Finance Ac t 1937”. |
Section 15(b), together with “and” at the end of paragraph (a). | ||
4 & 5 Geo. 6. c. 30. | The Finance Act 1941. | Section 43. |
5 & 6 Geo. 6. c. 21. | The Finance Act 1942. | Section 36. |
In section 38, the words “nor the national defence contribution”. | ||
Schedule 9. | ||
9 & 10 Geo. 6. c. 13. | The Finance (No. 2) Act 1945. | In section 35(2), the words “or to the national defence contribution”. |
In section 36, the words “or the national defence contribution”. | ||
Section 37. | ||
In Schedule 5, the words “or to the national defence contribution”. | ||
9 & 10 Geo. 6. c. 64. | The Finance Act 1946. | Section 44. |
10 & 11 Geo. 6. c. 35. | The Finance Act 1947. | Part IV so far as unrepealed. |
Schedule 8. | ||
11 & 12 Geo. 6. c. 49. | The Finance Act 1948. | Section 79. |
14 & 15 Geo. 6. c. 43. | The Finance Act 1951. | Part III so far as unrepealed. |
15 & 16 Geo. 6. & 1 Eliz. 2. c. 10. | The Income Tax Act 1952. | Section 348(7). |
Section 434(3). | ||
Section 435(4). | ||
In section 469(1) and (2), the words “and profits tax”. | ||
Section 473(2)(c) with the “and” at the end of paragraph (b). | ||
In Schedule 16, in paragraph 1(1), the definition of “income”, paragraph 2(2) and paragraph 14. | ||
In Schedule 20, paragraph 2(4), from “and for” onwards and paragraph 10(4). | ||
In Schedule 21, paragraph 10. | ||
15 & 16 Geo. 6. & 1 Eliz. 2. c. 33. | The Finance Act 1952. | Part IV, so far as unrepealed. |
Section 67(2). | ||
1 & 2 Eliz. 2. c. 34. | The Finance Act 1953. | Section 25(4). |
2 & 3 Eliz. 2. c. 44. | The Finance Act 1954. | Section 16(12). |
4 & 5 Eliz. 2. c. 17. | The Finance (No. 2) Act 1955. | In Schedule 2, paragraph 3. |
4 & 5 Eliz. 2. c. 54. | The Finance Act 1956. | Part IV, so far as unrepealed. |
In Schedule 4, paragraph 1. | ||
6 & 7 Eliz. 2. c. 56. | The Finance Act 1958. | Part IV. |
Schedule 7. | ||
7 & 8 Eliz. 2. c. 58. | The Finance Act 1959. | Section 33. |
In Schedule 5, paragraph 2. | ||
8 & 9 Eliz. 2. c. 44. | The Finance Act 1960. | Section 70. |
10 & 11 Eliz. 2. c. 44. | The Finance Act 1962. | Section 10(7). |
Section 23(7). | ||
Section 24(11) from the words “where this section applies” onwards. | ||
In Schedule 9, paragraph 17(3)(a)(i). | ||
1963 c. 25. | The Finance Act 1963. | Section 69. |
1964 c. 37. | The Income Tax Management Act 1964. | In section 3, in subsection (2) the words “and the enactments relating to the profits tax”, and in subsection (3) the words “or the profits tax”. |
Section 10. | ||
In section 11, in subsections (1), (2), (3) and (4) the words “or the enactments relating to the profits tax”. | ||
In section 12, in subsection (1), (2), and (twice) subsection (4) the words “or the enactments relating to the profits tax”. | ||
In section 13(1) the words “or paragraph 5 of Part II of Schedule 5 to the Finance Act 1937” and the words “or the said paragraph 5” (twice), and in subsection (5) the words “or the said paragrap h 5”. | ||
In section 14, in subsection (1) the words “and the enactments relating to the profits tax”, in subsection (2) the words “or the profits tax” and the words “and the enactments relating to the profits tax”, in subsection (3) the words “or the enactments relating to the profits tax”. | ||
In section 15, in subsection (1)(a) the words “or the enactments relating to the profits tax” and in subsection (2) the words “paragraph 5 of Part II of Schedule 5 to the Finance Act 1937”. | ||
In section 17(2) the words from “and, so far” to the end of the subsection. | ||
In Schedule 3, paragraph 7. | ||
1964 c. 49. | The Finance Act 1964. | In section 17, subsections (2) and (6). |
The above repeals shall have effect only in relation to the profits tax, and shall not affect the liability to profits tax for chargeable accounting periods ending on or before 5th April 1966, or the assessment, collection or recovery of that tax or other proceedings relating thereto.
Part VI Other Repeals
Chapter | Short Title | Extent of Repeal |
|---|---|---|
1964 c. 9. | The Public Works Loans Act 1964. | Section 7(1). |
Schs. 1–4 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III