Finance Act 1973
1973 c. 51
An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.
The text of ss. 10-44, 51-54, 58, 59(1)(2)(3)(c)(4)-(7), Schs. 8-17, 20-22 was taken from SIF Group 63:1 (Income, Corporation and Capital Gains Taxes:Income and Corporation Taxes ); ss. 47-50, 59(1)(3)-(6), Sch. 19 from SIF Group 114 (Stamp Duty); ss. 56, 59(1)(4)-(6) from SIF Group 99:5 (Public Finance and Economic Controls: Fees); provisions omitted from SIF have been dealt with as referred to in other commentary.
General amendments to Tax Acts, Income Tax Acts, and/or Corporation Tax Acts made by legislation after 1.2.1991 are noted against Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) but not against each Act
For the extent of this Act insofar as it relates to Northern Ireland see s. 59(4)
General amendments etc. to Tax Acts (or Income Tax Acts or Corporation Tax Acts as the case may be) made by Taxes Management Act 1970 (c. 9, SIF 63:1), s. 41A(7) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 95(1)(2), British Telecommunications Act 1981 (c. 38, SIF 96), s. 82(2)(7); Telecommunications Act 1984 (c. 12, SIF 96), s. 72(3); Finance Act 1984 (c. 43, SIF 63:1), ss. 82(6), 85(2), 89(1)(7), 96(1)(7), 98(7), Sch. 9 para. 3(2)(9), Sch. 16 paras. 6, 12 and Finance Act 1985 (c. 54, SIF 63:1), ss. 72(1), 74(5), Sch. 23 para. 15(4), S.I. 1987/530, regs. 11(2), 13(1), 14, Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), ss. 4, 6, 7, 9, 32, 34, 78, 134, 135, 141, 142, 185, 191, 193, 194, 195, 200, 203, 209, 212, 213, 219, 247, 253, 272, 287, 314, 315, 317, 318, 325, 326, 327, 345, 350, 351, 368, 375, 381, 397, 414, 432, 440, 442, 446, 458, 460, 461, 463, 463(2)(3) (as added by Finance Act 1990 (c. 29, SIF 63:1), s. 50(2) ), 468, 474, 475, 486, 490, 491, 503, 511, 518, 524, 532, 544, 550, 556, 558, 569, 572, 582, 595, 601, 613, 617, 619, 621, 639, 656, 660, 663, 676, 689, 691, 694, 700, 701, 714, 716, 739, 743, 754, 763, 776, 780, 781, 782, 787, 789, 811, 828, 829, 832, 833, 834, 835, 837, 838, 839, 840, 841, 842, Sch. 2 para. 5, Sch. 4 para. 5, Sch. 13 para. 10, Sch. 16 para. 10, Sch. 21 para. 6, Sch. 26 para. 1, Sch. 27 para. 20, Finance Act 1988 (c. 39, SIF 63:1), ss. 66, 127(1)(6), Sch. 12 para. 6, Capital Allowances Act 1990 (c. 1, SIF 63:1), ss. 28(1), 68(8), 74, 82, 83(5), 148(5), 163(4), 164(2), S.I. 1990/627 and Finance Act 1990 (c. 29, SIF 63:1), s. 25(10)
Act: references in this Act to the Official List of The Stock Exchange shall have effect (2.10.1991) as references to the Official List maintained by the new competent authority for the purposes of Part IV of the Financial Services Act 1986 (c. 60) by S.I. 1991/2000, reg. 4(5).
PARTS I AND II
1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4
9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5
PART III INCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
F4832 Information as to arrangements for transferring relief, etc.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7
37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8
F4938 Territorial extension of charge to income tax, capital gains tax and corporation tax.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9
F4741 General Commissioners’ divisions.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10
43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11
44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12
PART IV
45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F13
Part V Stamp Duty
47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14
49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F15
50 Temporary statutory effect of House of Commons resolution affecting stamp duties. C3
1
Where the House of Commons passes a resolution which—
a
provides for the variation or abolition of an existing stamp duty . . . F16; and
b
is expressed to have effect for a period stated in the resolution in accordance with the following provisions of this section; and
c
contains a declaration that it is expedient in the public interest that the resolution should have statutory effect under the provisions of this section;
then, subject to subsection (3) of this section, the resolution shall for the period so stated have statutory effect as if contained in an Act of Parliament.
2
The period to be stated in a resolution is a period expressed as beginning on a date so stated and ending on, or thirty-one days or such less number of days as may be so stated after, the earliest of the dates mentioned in this subsection; and those dates are—
a
the F17thirtieth day on which, after the day the resolution is passed, the House of Commons sits without a Bill containing provisions to the same effect as the resolution being read a second time and without a Bill being amended (whether by the House or a Committee of the House or a F46Public Bill Committee) so as to include such provisions;
b
the rejection of such provisions during the passage through the House of a Bill containing them;
c
the dissolution or prorogation of Parliament; and
d
the expiration of the period of F18six months beginning with the day on which the resolution takes effect.
3
A resolution shall cease to have statutory effect under this section if an Act comes into operation varying or abolishing the duty.
4
The ending of the period for which a resolution has statutory effect under the provisions of this section shall not affect the validity of anything done during that period.
PART VI
51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F19
52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F20
54 Amendments consequential on establishment of The Stock Exchange.
1
a
references to the Stock Exchange, London or the London Stock Exchange, a stock exchange in the United Kingdom or a recognised stock exchange in the United Kingdom shall be construed as references to The Stock Exchange;
b
references to quotation on a stock exchange in the United Kingdom on a recognised stock exchange in the United Kingdom shall be construed as references to listing in the Official List of The Stock Exchange; and
c
references to a member of a stock exchange in the United Kingdom shall be construed as references to a member of The Stock Exchange;
and those enactments shall have effect subject to the amendments specified in Schedule 21 to this Act.
2
This section shall be deemed to have come into operation on 25th March 1973 but shall not affect the operation of any enactment in relation to anything done before that day.
55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F24
C5C1156C4 Charges for services, etc., by Government departments.
1
Where a Government department, in pursuance of any F51EU obligation or any international agreement or arrangement, provides any services or facilities or issues any authorisation, certificate or other document, it may, in connection therewith, require the payment of such fees or other charges as may be prescribed by, or determined under, regulations made by the Minister in charge of the department with the consent of the Treasury.
2
Regulations under this section may provide for the recovery and disposal of any sums payable under the regulations and make different provision for different circumstances.
3
The powers conferred by this section are without prejudice to any powers exercisable apart from this section to require the payment of fees or other charges.
C6C104
Regulations under this section shall be made by statutory instrument, which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
5
In this section “Government department” includes a department of the Government of Northern Ireland, and any regulations which the Minister in charge of such a department is empowered to make under this section may be made either by him or by the department, and with the consent of the F25Department of Finance for Northern Ireland instead of the Treasury; and in relation to regulations so made subsection (4) of this section shall not apply but they shall be subject to negative resolution, within the meaning of section 41(6) of the M1Interpretation Act (Northern Ireland) 1954, as if they were a statutory instrument within the meaning of that Act.
6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F26
57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F27
58 Trustee Investments Act 1961—dividends of water companies.
1
The Treasury may by order make such amendments in paragraph 10 of Part II of Schedule 1 to the M2Trustee Investments Acts 1961 (under which a trustee’s power to invest in certain securities depends on the amount of dividends paid) and in any enactment or instrument modifying that paragraph as appear to them required in consequence of the repeal by the Finance Act 1972 of the provisions relating to the deduction of income tax from distributions made by companies.
2
An order under this section may be varied or revoked by a subsequent order under this section, and any such order shall be made by statutory instrument, which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
59 Citation, interpretation, construction, extent and repeals.
1
This Act may be cited as the Finance Act 1973.
F282
In this Act—
a
“the Taxes Act 1970” means the Income and Corporation Taxes Act 1970; and
b
“the Taxes Act 1988” means the Income and Corporation Taxes Act 1988.
3
In this Act—
C7a
Part I shall be construed as one with the Customs and Excise Act 1952;
b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F29
c
Part III, so far as it relates to income tax, shall be construed as one with the Income Tax Acts, so far as it relates to corporation tax, shall be construed as one with the COrporation Tax Acts and, so far as it relates to capital gains tax, shall be construed as one with F30the Capital Gains Tax Act 1979;
d
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F31
e
Part V shall be construed as one with the M3Stamp Act 1891.
4
Except so far as the context otherwise requires, any reference in this Act to any enactment shall be construed as a reference to that enactment as amended, and as including a reference to that enactment as applied, by or under any other enactment, including this Act.
5
Except as otherwise expressly provided, such of the provisions of this Act as relate to matters in respect of which the Parliament of Northern Ireland has power to make laws do not extend to Northern Ireland.
6
If the Parliament of Northern Ireland passes provisions amending or replacing any enactment of that Parliament referred to in this Act the reference shall be construed as a reference to the enactment as so amended or, as the case may be, as a reference to those provisions.
7
The enactments mentioned in Schedule 22 to this Act (which include certain enactments which had ceased to have effect before the commencement of this Act) are hereby repealed to the extent specified in the third column of that Schedule, but subject to any provision at the end of any Part of that Schedule.
SCHEDULES
SCHEDULES 1—4. . . . F32
Schs. 1–4 repealed by Finance (No. 2) Act 1975 (c. 45), s. 75(5), Sch. 14 Pt. I
SCHEDULE 5. . . . F33
Sch. 5 repealed by Finance Act 1977 (c. 36), s. 59(5), Sch. 9 Pt. II
SCHEDULES 6 AND 7. . . . F34
Schs. 6, 7 repealed by Finance (No. 2) Act 1975 (c. 45), s. 75(5), Sch. 14 Pt. I
SCHEDULES 8—14. . . . F35
Schs. 8–14 repealed (with savings) by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31
F50SCHEDULE 15 TERRITORIAL EXTENSION OF CHARGE TO TAX—SUPPLEMENTARY PROVISIONS
Sch. 15 repealed (1.4.2010 with effect in accordance with s. 381(1)) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 7 para. 8, Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)
F501
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F50 Information
F502
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F503
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F50 Collection
F504
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F504A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F505
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F506
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F507
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F507A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F508
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F508A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F509
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SCHEDULE 16 . . . F36
Sch. 16 repealed (with savings) by Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1), s. 844, Sch. 31; see Finance Act 1988 (c. 39), ss. 58, 59, Sch. 14 Pt. IV for amendments to Sch. 16 for years 1985-6 to 1987-88 and s. 61 for amendment to Sch. 16 para. 17(1)(a) for 1986-87 and 1987-88)
F52SCHEDULE 16A UNDERWRITERS ASSESSMENT AND COLLECTION OF TAX
Sch. 16A repealed (31.1.2013) by Statute Law (Repeals) Act 2013 (c. 2), s. 3(2), Sch. 1 Pt. 10 Group 1
F52 Preliminary
F521
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Returns by agent
F522
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Payments on account of tax
F523
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Determinations by inspector
F524
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Appeals
F525
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Modification of determinations pending appeal
F526
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Apportionments of syndicate profit or loss
F527
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Individual members: effect of determinations
F528
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Assessment of individual members: time limits
F529
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Suppleptiental: penalties
F5210
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F52 Supplemental: interest
F5211
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
SCHEDULE 17 . . . F37
Sch. 17 repealed by Finance Act 1976 (c. 40), s. 49(2), Sch. 15 Pt. III (for 1977-78 et seq. as respects remuneration and certain pensions, see s. 49(7))
SCHEDULE 18 . . . F38
Sch. 18 repealed (with savings) by Finance Act 1975 (c. 7), ss. 50, 52(2)(3), 59, Sch. 13 Pt. I
SCHEDULE 19 . . . F39
Sch. 19 repealed by Finance Act 1988 (c. 39, SIF 114), ss. 141(1)(2)(6), 148, Sch. 14 Pt. XI
SCHEDULE 20 . . . F40
Sch. 20 repealed (with savings) by Capital Gains Tax Act 1979 (c. 14), ss. 157(1), 158, Sch. 6 para. 10(2)(b), Sch. 8
SCHEDULE 21 AMENDMENTS CONSEQUENTIAL ON ESTABLISHMENT OF THE STOCK EXCHANGE
1
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F41
2
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F42
3
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F43
4
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F44
C85
In section 21 of the Taxes Management Act 1970—
a
the words “or dealing broker”, wherever they occur, and the definition of “dealing broker” in subsection (7) shall be omitted; and
b
for the definitions of “broker” and “jobber” in subsection (7) there shall be substituted the following:—
“broker” means a member of The Stock Exchange who carries on his business in the United Kingdom and is not a jobber;
“jobber” means a member of The Stock Exchange who is recognised by the Council thereof as carrying on the business of a jobber and carries on that business in the United Kingdom
6
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F45
C9SCHEDULE 22 ENACTMENTS REPEALED
The text of s. 59(3)(a), Sch. 16A, Sch. 21 para. 5 and 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 Revenue Duties
Chapter | Short title | Extent of repeal |
---|---|---|
12, 13 & 14 Geo. 6. c. 47. | The Finance Act 1949. | Section 8. |
14 & 15 Geo. 6 c. 43. | The Finance Act 1951. | Section 4. |
10 & 11 Eliz. 2. c. 44. | The Finance Act 1962. | Section 2. |
1963 c. 25. | The Finance Act 1963. | Section 3. |
Section 4(1) and (3). | ||
Schedule 1. | ||
1964 c. 49. | The Finance Act 1964. | Section 1(2) and (3). |
Section 2(3). | ||
Section 3(2). | ||
Section 4(3). | ||
1968 c. 44. | The Finance Act 1968. | Section 3. |
1969 c. 32. | The Finance Act 1969. | In section 1, subsections (1), (2) and (5)(c). |
Schedules 2 to 5. | ||
In Schedule 7, paragraph 3. | ||
1970 c. 24. | The Finance Act 1970. | In section 7, in subsection (2), the words from “Schedule 5” to “1969 and”, and the words from “(tobacco” to “proof spirit”; and subsectionn (4). |
Section 10. | ||
1971 c. 68. | The Finance Act 1971. | Section 12. |
1972 c. 41. | The Finance Act 1972. | Section 56. |
Sections 60 and 61. | ||
Schedule 8. |
PART II INCOME TAX AND CORPORATION TAX
Chapter | Short title | Extent of repeal | |
---|---|---|---|
1965 c. 25 | The Finance Act 1965 | In section 94, in subsection (1) the words from “and of section 163(1)” to “Schedule D)” ; and in subsection (3) the words from “or of Chapter VIII”to “1970”. | |
1966 c. 18 | The Finance Act 1966 | In section 43, the words from “and Part II” to “ capital gains”. | |
1969 c. 32 | The Finance Act 1969. | In Schedule 19, in paragraph 16(2), the words from “for the purposes”to “capital gains”. | |
1970 c.10. | The Income and Corporation Taxes Act 1970. | In section 108, paragraph 2 of Schedule D and, in paragraph 3, the words “and 2”. | |
Section 258(8)(b). | |||
In section 461, in paragraph A, the words from “to recover tax” to the end of the paragraph. | |||
Section 466(2). | |||
In section 468(4), in the second column, the words “(4)” and “Section 466(2)”. | |||
In Schedule 8, the proviso to paragraph 4. | |||
In Schedule 15, in the Table in paragraph 11, the entries relating to section 94 of the Finance Act 1965. | |||
1970 c.24. | The Finance Act 1970. | Section 19(2) (f) . In section 26(1) the definition of “controlling director” . In Schedule 5, in paragraph 12(7), the words “the proviso to paragraph 4 of Schedule 8”. | |
1970 c.54. | The Income and Corporation Taxes (No.2) Act 1970. | Section 2 . | |
1971 c.68. | The Finance Act 1971. | In section 15, paragraphs (a) and (b) of subsection(2) and subsection(6). Section 18(2). In Schedule 6, paragraphs 10 and 64. | |
1972 c.41. | The Finance Act 1972. | Section 65(2). In section 92(2), (6) and (7) the word “ surplus” , wherever it occurs. In Schedule 12, in paragraph 5(1) of Part IV the words from “and where” onwards, and in paragraph 5(2)(b) of that Part the words “and that price” and the words from “both” to “thereof and” . In Schedule 16, in paragraph 5(7)(c) the word “total” and paragraph 7(7) . |
PART III UNDERWRITERS
Chapter | Short title | Extent of repeal |
---|---|---|
1972 c.10. | The Income and Corporation Taxes Act 1970. | In Schedule 10, the following— |
in paragraph 1 the words “who elects to take advantage of the arrangements”, the word “such”, where it last occurs, and the words “who duly elects as aforesaid”; | ||
paragraphs 2 to 4; | ||
in paragraph 7(2) the words from “subsequent” to the end; | ||
in paragraph 11(1)(a) the words “for all income tax purposes”; | ||
in paragraph 11(2)(a)(iii) the words “which immediately preceded the year of assessment”; | ||
in paragraph 14, sub-paragraph (a). |
These repeals have effect for the year 1973-74 and subsequent years of assessment and, so far as they relate to proviso (a) of paragraph 7(2) and paragraph 11(2)(a)(iii), also for the year 1972-73.
PART IV THE STOCK EXCHANGE
Chapter | Short title | Extent of repeal |
---|---|---|
21 &22 Geo. 5. c. 28. | The Finance Act 1931. | Section 42. |
1970 c.9. | The Taxes Management Act 1970. | In section 21 the words “or dealing broker”, wherever they occur, and, in subsection (7), the definition of “dealing broker”. |
1970 c.10. | The Income and Corporation Taxes Act 1970. | In section 472(2), paragraph (c) and the words from “and, in the case” to the end. |
In section 477, in subsection (3), the words “or dealing broker”, in both places and, in subsection (6), the definition of “dealing broker”. |
Part V Stamp Duty
Chapter | Short title | Extent of repeal |
---|---|---|
54 & 55 Vict. c. 39. | The Stamp Act 1891. | Section 82. |
In section 83, the words “makes, issues” and “or offers for subscription”. | ||
Sections 112 and 113. | ||
In Schedule 1 the headings “Bond for securing the payment or repayment of money or the transfer or retransfer of stock”, “Colonial Security”, “Debenture for securing the payment or repayment of money or the transfer of stock”, “Foreign Security”, and “Marketable Security”. | ||
59 & 60 Vict. c. 28. | The Finance Act 1896. | Section 12. |
62 & 63 Vict. c. 9. | The Finance Act 1899. | Sections 7 and 8. |
3 Edw. 7. c. 46. | The Revenue Act 1903. | Section 5. |
7 Edw. 7. c. 13. | The Finance Act 1907. | Section 10. |
7 Edw. 7. c. 24. | The Limited Partnerships Act 1907. | Section 11. |
10 & 11 Geo. 5. c. 18. | The Finance Act 1920. | Section 39. |
17 & 18 Geo. 5. c. 10. | The Finance Act 1927. | In section 55, in subsection (1), paragraph (A), and subsection (4). |
18 & 19 Geo. 5. c. 17. | The Finance Act 1928. | In section 31, paragraph (1). |
20 & 21 Geo. 5. c. 28. | The Finance Act 1930. | Section 41. |
Section 45. | ||
23 & 24 Geo. 5. c. 19. | The Finance Act 1933. | Section 41. |
24 & 25 Geo. 5. c. 32. | The Finance Act 1934. | Section 29. |
9 & 10 Geo. 6. c. 64. | The Finance Act 1946. | Section 52(b). |
10 & 11 Geo. 6. c. 35. | The Finance Act 1947. | Section 59. |
11 & 12 Geo. 6. c. 49. | The Finance Act 1948. | Section 73. |
5 & 6 Eliz. 2. c. 48. | The Electricity Act 1957. | In section 26, in subsection (6) the words from “and for the purposes” to the end of the subsection. |
10 & 11 Eliz. 2. c. 46. | The Transport Act 1962. | In section 41, susbsection (2) and in subsection (4) paragraph (a). |
1963 c. 25. | The Finance Act 1963. | In section 57(1), the words “Marketable Security, paragraph (1)(b) (security not transferable by delivery)”. |
Section 58(2). | ||
In section 59, in subsection (1) the words “and paragraph (1)(a) and (c) and paragraphs (3) and (4) of the heading Marketable Security” , and in subsection (2) the words from “and section 82” to the end of the subsection. | ||
In section 62, in subsection (4) the words “82 and”, and in subsection (6) the words from “and in section 82” to the end of the subsection. | ||
1967 c. 54. | The Finance Act 1967. | Section 28. |
In section 29, subsection (1) in subsection (3) the words “(1) and” and subsection (4). | ||
1967 c. 81. | The Companies Act 1967. | Section 44(8). |
1968 c. 44. | The Finance Act 1968. | Section 56. |
1968 c. 73. | The Transport Act 1968. | In section 160, in subsection (3) in paragraph (a) the words “or an issue of loan capital” and “or issue” and in each of paragraphs (b) and (c) the words “or issue of loan capital” and “or issue”, and subsection (4). |
1969 c. 32. | The Finance Act 1969. | Section 56. |
1969 c. 35. | The Transport (London) Act 1969. | Section 44(2). |
1970 c. 24. | The Finance Act 1970. | In Schedule 7, paragraph 15. |
1
Subject to paragraphs 2 and 3 below, these repeals have effect on and after 1st August 1973 but do not apply in relation to any case where stamp duty may be chargeable after that date in accordance with subsection (1) of section 49 of this Act.
2
In so far as they relate to duty chargeable—
a
by virtue of the heading “Marketable Security” in Schedule 1 to the Stamp Act 1891, and
b
under section 8 of the Finance Act 1899 (on loan capital), these repeals shall be deemed to have had effect on and after 1st January 1973.
3
These repeals are without prejudice to subsections (3)(a) and (9) of section 49 of this Act.
Act partly in force at Royal Assent, partly retrospective, see individual sections; all provisions so far as unrepealed wholly in force at 1.2.1991.