Finance Act 1968

Schedules

Schedules 1—4. U.K. . . . F1

Textual Amendments

F1 Schs. 1–4 repealed by Finance Act 1969 (c. 32), s. 61(6), Sch. 21 Pt. I

Schedule 5. U.K. . . . F2

Textual Amendments

F2 Sch. 5 repealed by Betting and Gaming Duties Act 1972 (c. 25), s. 29(2), Sch. 7

Schedule 6. U.K. . . . F3

Textual Amendments

F3 Sch. 6 repealed by Finance Act 1972 (c. 41), ss. 54(8), 134(7), Sch. 28 Pt. II

Schedule 7. U.K. . . . F4

Textual Amendments

F4 Sch. 7 repealed by Vehicles (Excise) Act 1971 (c. 10), s. 39(5), Sch. 8 Pt. I

Schedules 8—10. U.K. . . . F5

Textual Amendments

F5 Schs. 8–10 repealed by Income and Corporation Taxes Act 1970 (c. 10), ss. 583(1), 539(1), Sch. 16

Schedules 11, 12. U.K. . . . F6

Textual Amendments

F6 Schs. 11, 12 repealed (with savings) by Capital Gains Tax Act 1979 (c. 14), ss. 157(1), 158, Sch. 6 para. s. 10(2)(b), Sch. 8

Schedule 13. U.K. . . . F7

Textual Amendments

F7 Sch. 13 repealed by Income and Corporation Taxes Act 1970 (c. 10), ss. 538(1), 539(1), Sch. 16

Schedule 14. U.K. . . . F8

Textual Amendments

F8 Sch. 14 repealed (with savings) by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I

Section 41.

F9 Schedule 15. U.K. Special Charge: Trusts

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Textual Amendments

F9 Sch. 15 repealed (21.7.2008) by Statute Law (Repeals) Act 2008 (c. 12), Sch. 1 Pt. 8

Section 45.

F10 Schedule 16. U.K. Special Charge: Close Companies

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Textual Amendments

F10 Sch. 16 repealed (21.7.2008) by Statute Law (Repeals) Act 2008 (c. 12), Sch. 1 Pt. 8

Schedule 17. U.K. . . . F11

Textual Amendments

F11 Sch. 17 repealed by Finance Act 1972 (c. 41), ss. 122(5), 134(7), Sch. 28 Pt. IX

SCHEDULE 18 U.K. Premium Savings Bonds: New Terms

1 U.K. Premium Savings Bonds are a Government Security and are eligible for inclusion in draws for cash prizes. These prizes are free from United Kingdom Income Tax, Surtax and Capital Gains Tax.

2 U.K. Premium Saving Bonds, (Series B) (hereinafter called Bonds) will be issued in units of £1 by the Treasury and will be subject to regulations made from time to time by the Treasury under section 12 of the M1 National Debt Act 1958, or having effect by virtue of that Act. The principal of the Bonds and the prizes allotted will be a charge on the National Loans Fund with recourse to the Consolidated Fund.

Marginal Citations

M1 1958 c. 6. (7 & 8 Eliz. 2).

F12 3 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F12 Sch. 18 para. 3 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(2)

4 U.K. Bonds are not transferable either during the lifetime or on the death of the registered holder. No responsibility can be accepted in respect of their use as security for a loan.

5 U.K. There will be a monthly prize fund which will be determined by calculating one month’s interest on each bond eligible for the draws in that month. The rate of interest will be 45/8% per annum or such other rate as may be prescribed under the provisions of paragraph 15 below.

F13 6 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13 Sch. 18 para. 6 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(2)

7 U.K. F14 ... After a Bond has qualified for its first draw it will be included in each succeeding draw, unless it has been repaid before the first day of the month in which the draw is held or (subject to the provisions of paragraph 15 below) the registered holder has died before the first day of a period of twelve consecutive calendar months preceding the month in which the draw is held.

Textual Amendments

F14 Words in Sch. 18 para. 7 repealed (2.11.2010) by Premium Savings Bonds (Amendment etc) Regulations 2010 (S.I. 2010/2479), regs. 1, 14(a)

8 U.K. Each £1 unit Bond will have one chance in each draw for which it is eligible. Each £1 unit Bond may win not more than one prize in each draw for which it is eligible and in draws producing more that one prize will be allotted the highest prize for which it is drawn.

9 U.K. Notwithstanding the provisions of paragraph 7 above any Bond purchased in contravention of any regulation limiting the number of unit Bonds which may held by any person shall not be eligible for inclusion in any draw until the holding has been reduced to not more than the maximum number permitted by such regulation.

F15 10 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F15 Sch. 18 para. 10 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(2)

11 U.K. The serial numbers of Bonds which are allotted prizes will be published F16 ... F17 ...

Textual Amendments

F16 Words in Sch. 18 para. 11 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(3)

F17 Words in Sch. 18 para. 11 repealed (2.11.2010) by Premium Savings Bonds (Amendment etc) Regulations 2010 (S.I. 2010/2479), regs. 1, 14(b)

12 U.K. All matters relating to the method and conduct of the draw and allotment of prizes shall be at the sole discretion of the Postmaster General, whose decision as to which Bonds have drawn prizes shall be final.

13 U.K. The purchase price of a Bond is repayable in full on application to the Bonds and Stock Office.

F18 14 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F18 Sch. 18 para. 14 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(2)

15 U.K. The Treasury reserve the right F19 ...:—

(a) to vary the rate of interest specified in paragraph 5 above for determining the amount of the prize fund;

F20 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) to vary the provisions of paragraph 7 above insofar as they relate to the eligibility of a Bond for inclusion in a draw after the death of the registered holder;

(d) to declare any Bonds purchased on or before a date specified F21 ... to be ineligible for further draws.

Textual Amendments

F19 Words in Sch. 18 para. 15 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(4)(a)

F20 Sch. 18 para. 15(b) repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(4)(b)

F21 Words in Sch. 18 para. 15(d) repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(4)(c)

F22 16 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Sch. 18 para. 16 repealed (30.9.2004) by Premium Savings Bonds (Amendment etc) Regulations 2004 (S.I. 2004/2353), regs. 1, 2(2)

Schedule 19 U.K. . . . F23

Textual Amendments

F23 Sch. 19 repealed by Finance Act 1971 (c. 68), s. 69(7), Sch. 14 Pt. VII

Section 61

schedule 20 U.K. REPEALS

Modifications etc. (not altering text)

C1 The text of Schedule 20 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 prior to 1.2.1991.

PART I U.K. CUSTOMS AND EXCISE REPEALS

PART II U.K. DOUBLE TAXATION RELIEF REPEALS

PART III U.K. CAPITAL GAINS REPEALS

PART IV U.K. ESTATE DUTY REPEALS

PART V U.K. EXCHANGE CONTROL REPEALS

PART VI U.K. MISCELLANEOUS REPEALS