Finance Act 1986

PART VII Miscellaneous and Supplementary

111 Broadcasting: additional payments by programme contractors

(1) The [1981 c. 68.] Broadcasting Act 1981 shall have effect with respect to additional payments payable by programme contractors under that Act subject to the amendments made by Part I of Schedule 22 to this Act.

(2) The transitional provisions made by Part II of that Schedule shall have effect.

(3) This section shall be deemed to have come into force on 1st April 1986.

112 Limit for local loans

In section 4(1) of the [1968 c. 13.] National Loans Act 1968 (which provides that the aggregate of any commitments of the Public Works Loan Commissioners in respect of undertakings to grant local loans and any amount outstanding in respect of the principal of such loans shall not exceed £28,000 million or such other sum not exceeding £35,000 million as the Treasury may specify by order) for the words "£28,000 million" and "£35,000 million" there shall be substituted respectively "£42,000 million" and "£50,000 million".

113 "Securities" for purposes of Exchange Equalisation Account Act 1979

—At the end of section 3 of the [1979 c. 30.] Exchange Equalisation Account Act 1979 (investment of the funds of the Exchange Equalisation Account) there shall be added the following subsection—

“(4) Without prejudice to the reference in subsection (1)(b) above to special drawing rights, the reference in subsection (3) above to currency of any country includes a reference to units of account defined by reference to more than one currency.”

114 Short title, interpretation, construction and repeals

(1) This Act may be cited as the Finance Act 1986.

(2) In this Act "the Taxes Act" means the [1970 c. 10.] Income and Corporation Taxes Act 1970.

(3) Part II of this Act, 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 the [1979 c. 14.] Capital Gains Tax Act 1979.

(4) Part III of this Act shall be construed as one with the [1891 c. 39.] Stamp Act 1891.

(5) Part V of this Act, other than section 100, shall be construed as one with the [1984 c. 51.] Capital Transfer Tax Act 1984.

(6) The enactments and Orders specified in Schedule 23 to this Act are hereby repealed to the extent specified in the third column of that Schedule, but subject to any provision at the end of any Part of that Schedule.