Finance Act 1968

Section 61.

SCHEDULE 20 Repeals

PART I Customs and Excise Repeals

Chapter	Short Title	Extent of Repeal
The above repeals in the Finance Act 1965 do not affect licences taken out before 20th March 1968.
15 & 16 Geo. 6. and 1 Eliz. 2. c. 44.	The Customs and Excise Act 1952.	Section 66.
5 & 6 Eliz. 2. c.49.	The Finance Act 1957.	Section 3.
7 & 8 Eliz. 2. c. 58.	The Finance Act 1959.	In section 1(7) the words from " and section 3 of the Finance Act 1957 " onwards.
1963 c. 9.	The Purchase Tax Act 1963.	In Part I of Schedule 1, in Group 14, paragraph (2) of the exemptions, and in paragraph (a) of Group 26 the words " Diaries, calendars and similar articles: and"
1964 c. 49.	The Finance Act 1964.	Section 7(1) and (5).
1965 c. 25.	The Finance Act 1965.	In section 5, subsections (1), (2), (6) and (7), and in subsection (5) the words "II and" and the words from " except" onwards.
		In Schedule 5, Parts I, II, in, IV and VI.
1966 c. 18.	The Finance Act 1966.	Section 4.
		Section 5 (on the expiration of the period of one month beginning with the day on which this Act is passed).
		In Schedule 3, paragraph 2(2)(b).
1967 c. 54.	The Finance Act 1967.	In section 1— subsection (1)(b); in subsection (2), paragraphs (a), (c) and (d) and, in the words following the paragraphs, the figure " 1" and the words " 3 and 4 respectively "; subsection (3)(a) and (d).
		Schedules 1, 3 and 4.

PART II Double Taxation Relief Repeals

Chapter	Short Title	Extent of Repeal
This Part of this Schedule has effect as respects relief from income tax or capital gains tax for the year 1968-69 and subsequent years of assessment, and as respects relief from corporation tax for the financial year 1968 and subsequent financial years.
15 & 16 Geo. 6. and 1 Eliz. 2. c. 10.	The Income Tax Act 1952.	In Schedule 16 paragraphs 5, 6, 7 and 8.
1965 c. 25.	The Finance Act 1965.	In Schedule 16 paragraphs 1 and 6.

PART III Capital Gains Repeals

Chapter	Short Title	Extent of Repeal
1965 c. 25.	The Finance Act 1965.	In section 17 subsections (7) and (8) where the acquisition and disposal take place after 19th March 1968.
		Section 24(10) as respects a death after 19th March 1968.
		Section 29(11).
		In Schedule 6, paragraph 9(1)(b), and in paragraph 25(1) the words from "by notice" to "date of the disposal".
		In Schedule 8 paragraph 8 as respects a disposal after 5th April 1968.
1967 c. 54.	The Finance Act 1967.	In section 33(3) the words from " and ' year of assessment' " to the end of the subsection.

PART IV Estate Duty Repeals

Chapter	Short Title	Extent of Repeal
This Part of this Schedule has effect in the case of a death after 19th March, 1968.
52 & 53 Vict. c. 7.	The Customs and Inland Revenue Act 1889.	In the first paragraph of section 11(1) the words from "shall be read as if" to "said description of property ".
10 Edw. 7 & 1 Geo. 5. c. 8.	The Finance (1909-10) Act 1910.	In section 59 subsection (1), and in subsection (2) the words " and this section" and, as respects gifts made after 19th March 1968, the words from "which are made" to " circumstances or ".
3 & 4 Geo. 6. c. 29.	The Finance Act 1940.	In section 46(2) proviso (b).
9 & 10 Geo. 6. c. 64.	The Finance Act 1946.	Section 47. Schedule 11.
5 & 6 Eliz. 2. c. 49.	The Finance Act 1957.	In section 38(10) the words from " except in " to the end of the subsection.
8 & 9 Eliz. 2. c. 44.	The Finance Act 1960.	Section 64(1).

PART V Exchange Control Repeals

Chapter	Short Title	Extent of Repeal
10 & 11 Geo. 6. c. 14.	The Exchange Control Act 1947.	In section 30, in subsection (1)(v), and in subsection (3), the words "Treasury bills or ".
		In section 40 the words " Treasury bills ".
1964 c. 60.	The Emergency Laws (Re-enactments and Repeals) Act 1964.	In section 2(3), in paragraph (a) of the definition of " security " the words " and Treasury bills ".

PART VI Miscellaneous Repeals

Chapter	Short Title	Extent of Repeal
The repeal of section 397(3) of the Income Tax Act 1952 has effect for the year 1969-70 and subsequent years of assessment.
15 & 16 Geo. 6. and 1 Eliz. 2. c. 10.	The Income Tax Act 1952.	Section 205(3).
		Section 397(3).
8 & 9 Eliz. 2. c. 44.	The Finance Act 1960.	Section 40(1)(c).
1965 c. 25.	The Finance Act 1965.	In Schedule 17, paragraph 4(3), the words from " and as regards" to "each of the others " as respects a distribution made after 10th April 1968.
1967 c. 54.	The Finance Act 1967.	Section 16(1).