Finance Act 1989

12 Sale by Secretary of State of rights to particular registration marks. U.K.

(1) This section shall apply to such registration marks that either—

(a) have never been assigned to a vehicle, or

(b) have been so assigned but (as a result of having been subsequently withdrawn) are not for the time being so assigned,

as the Secretary of State may from time to time determine.

(2) The Secretary of State may by regulations make a scheme providing for registration marks to which this section applies to be assigned to vehicles registered in the names of, or of the nominees of, persons who have acquired rights under the scheme to have the marks in question so assigned.

(3) Regulations under this section may, in particular, make provision—

(a) for a person to acquire a right under the scheme to have a particular registration mark to which this section applies assigned to a vehicle registered—

(i) in his name, or

(ii) in the name of some other person nominated by him in accordance with the scheme,

on payment of such sum as is payable in accordance with the scheme in respect of the acquisition of that right [F1 and, where no charge is to be made by virtue of paragraph (j) below in connection with an assignment in pursuance of the right, in respect of such an assignment;]

(b) with respect to—

(i) the manner in which agreements for the sale of such rights (referred to in the following provisions of this section as “relevant rights”) may be effected,

(ii) the terms which may be contained in, or incorporated into, such agreements, and

(iii) rights and liabilities arising in connection with such agreements otherwise than under any such terms;

(c) for enabling the Secretary of State to determine as he thinks fit—

(i) the prices at which particular relevant rights are to be sold or (as the case may be) the reserve prices applicable to the sale of any such rights, or

(ii) the manner in which any such prices are to be determined;

(d) with respect to the manner in which relevant rights are to be exercisable;

(e) for relevant rights to be exercisable only on a single occasion falling within a specified period (subject to any provision made by virtue of paragraph (f) below);

[F2 (f) for enabling or requiring the Secretary of State, on the payment to him of a specified fee, to extend or (on one or more occasions) further extend any such period where the specified conditions are fulfilled and he thinks fit to do so in the circumstances of the case;]

(g) for relevant rights to be non-transferable (but without prejudice to the vesting of any such right in a person by operation of law);

(h) with respect to the conditions which must be satisfied before a registration mark may be assigned to a vehicle in pursuance of a relevant right;

(i) for authorising the Secretary of State to revoke a relevant right—

(i) if it appears to him that there are special reasons for doing so, or

(ii) in any other specified circumstances;

(j) for the payment, in connection with the assignment of a registration markin pursuance of a relevant right, of such charge as is for the time being prescribed by virtue of section 12(1) of the M1 Finance Act 1976;

[F3 (ja) for so much of any sum paid by virtue of paragraph (a) above in respect of the assignment of a registration mark to be retained, except where the specified conditions are fulfilled, whether or not there is such an assignment.]

(k) with respect to such incidental, consequential or supplemental matters as appear to the Secretary of State to be necessary or expedient for the purposes of a scheme under this section.

(4) Without prejudice to the generality of subsection (3)(b) above, regulations under this section may make provision for authorising the Secretary of State to make arrangements with other persons whereby such persons—

(a) are given authority (whether irrevocable or otherwise) to act on his behalf in offering for sale, and entering into agreements for the sale of, relevant rights in the case of such registration marks, and during such periods, as he may determine;

(b) are required to account to him for sums due to him under such agreements whether they have received any amounts due from the purchasers under the agreements or not; and

(c) may become entitled or subject to such rights or liabilities of the Secretary of State in connection with such agreements as may be specified.

(5) Regulations under this section may make different provision for different cases or circumstances, and may, in particular, exempt [F4 extensions or assignments of any specified class or description from any fee or charge payable by virtue of subsection (3)(f) or (j) above.]

(6) The power to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

(7) Any sums received by the Secretary of State in respect of the sale of relevant rights shall be paid into the Consolidated Fund.

(8) Section 11(5) above shall apply for the purposes of this section as if the reference to a right of retention were a reference to a relevant right.

(9) In this section—

“relevant right” means such a right as is mentioned in subsection (3)(a) above; and

“specified” means specified in regulations under this section.

Textual Amendments

F1 Words in s. 12(3)(a) inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 13(2)(a)

F2 S. 12(3)(f) substituted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 13(2)(b)

F3 S. 12(3)(ja) inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 13(2)(c)

F4 Words in s. 12(5) substituted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 13(2)(d)

Marginal Citations

M1 1976 c. 40.