(1)As from 12th April 1967 or, in the case of the duties referred to in subsection (3) of this section, as from six o'clock in the evening on 11th April 1967, the adjustment of ten per cent. having effect under subsection (2) of section 9 of the [1961 c. 36.] Finance Act 1961 by virtue of the [S.I. 1966/884.] Surcharge on Revenue Duties Order 1966 shall no longer have effect in relation to the duties or taxes to which that Order applies or any drawback, rebate, allowance or other payments in connection with any of those duties or taxes; but—
(a)the provisions of subsections (2) to (4) of this section shall have effect with a view to making in the rates of those duties and taxes increases which, taking into account international agreements and other relevant matters, are comparable to the amount of the adjustment aforesaid, together, in the case of goods to which certain of those duties relate, with a further amount towards offsetting in part the loss of revenue in connection with those goods resulting from the provisions of sections 4 and 5 of this Act; and
(b)the period after which orders of the Treasury under the said section 9 may not be made or continue in force (which, by section 16 of the [1966 c. 18.] Finance Act 1966, was extended until the end of August 1967) shall extend until the end of August 1968 or such later date as Parliament may hereafter determine.
(2)As from 12th April 1967, for the following provisions of the [1964 c. 49.] Finance Act 1964, as amended by section 1(1) of the [1965 c. 25.] Finance Act 1965, setting out rates of customs and excise duties and of drawback, namely—
(a)Table 1 in Schedule 1 (spirits other than imported perfumed spirits);
(b)Schedule 2 (beer);
(c)Schedule 3 (wine);
(d)Schedule 4 (British wine),
there shall be substituted the provisions set out in Schedules 1, 2, 3 and 4 respectively to this Act; but this subsection shall not affect the rates of drawback payable in the case of goods in respect of which duty has been paid otherwise than at the rates having effect by virtue of this subsection.
(3)As from six o'clock in the evening of 11th April 1967—
(a)section 2 of the [1964 c. 92.] Finance (No. 2) Act 1964 (which provides for a duty of customs at the rate of three shillings and threepence a gallon to be charged on imported hydrocarbon oils and for a duty of excise at the same rate to be charged on hydrocarbon oils produced in the United Kingdom, on petrol substitutes, and on spirits used for making power methylated spirits) shall have effect with the substitution for the words " three shillings and threepence " of the words " three shillings and sevenpence " ;
(b)the rate at which rebate of the customs or excise duty on hydrocarbon oils is allowed under section 199 of the Act of 1952 for heavy oils delivered for home use shall in all cases be a rate 2.2 pence a gallon less than the rate at which the duty in question is for the time being chargeable;
(c)section 6(4) of the [1964 c. 49.] Finance Act 1964 (which provides in certain cases where light oils charged with the customs or excise duty on hydrocarbon oils are delivered for home use as furnace fuel for a rebate of duty at a rate twopence a gallon less than the rate at which the duty is charged) shall have effect with the substitution for the word " twopence " of the words " 2-2 pence " ;
(d)subsection (2) of section 92 of the [1965 c. 25.] Finance Act 1965 (which provides that the amount of a grant under subsection (1) of that section by the Minister of Transport to the operator of a bus service towards defraying customs or excise duties charged on bus fuel shall not exceed sixpence for every gallon of fuel used or estimated to have been used in operating the bus service during the period to which the grant relates) and section 1(1)(b) of the [1966 c. 46.] Bus Fuel Grants Act 1966 (which amends the said subsection (2)) shall have effect as if for any reference therein to sixpence there were substituted a reference to tenpence, and so much of subsection (9) of the said section 92 as enables the Parliament of Northern Ireland to make laws for purposes similar to the purposes of the provisions of that section shall apply to those provisions as amended by this paragraph.
(4)As from 12th April 1967, Schedule 1 to the [1963 c. 9.] Purchase Tax Act 1963 shall have effect with the substitution for any reference to 10 per cent., 15 per cent. or 25 per cent. of a reference respectively to 11 per cent., 16 ½ per cent. or 27 ½ per cent.
(5)The provisions of Schedule 5 to this Act shall have effect for the purpose of—
(a)revising the definition of light oils for the purposes of the duties on hydrocarbon oils ; and
(b)making certain amendments as respects drawback, remission, or repayment of duty on beer.