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Version Superseded: 06/04/2013
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There are currently no known outstanding effects for the Finance Act 1991, Part V.
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F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)In section 828(4) of that Act (Treasury orders not subject to annulment in pursuance of a resolution of the House of Commons) after “377(8),” there shall be inserted “582A(1), ”.
Textual Amendments
F1S. 118(1) repealed (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
(1)The M1Government Trading Funds Act 1973 shall be amended as follows.
(2)In section 2 (assets and liabilities of funds) in subsections (1)(b) and (2) the words “at values or amounts determined by him in accordance with Treasury directions” shall be omitted.
(3)In that section, the following subsection shall be inserted after subsection (2)—
“(2A)The values or amounts of assets and liabilities which are the subject of provision under subsection (1) or (2) above shall be determined by the responsible Minister in accordance with Treasury directions.”
Marginal Citations
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Textual Amendments
F2S. 120 repealed (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 9 Group 4
(1)This section applies to any payment which, in consequence of the reduction in pool betting duty effected by section 5 above, is made—
(a)by a person liable to pay that duty, and
(b)to trustees established mainly for the support of athletic sports or athletic games but with power to support the arts.
F3(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F4(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Where a payment to which this section applies is made, the sum received by the trustees and any assets representing it (but not any income or gains arising from them) shall not be relevant property for the purposes of Chapter III of Part III of the M2Inheritance Tax Act 1984.
Textual Amendments
F3S. 121(2) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 357, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
F4S. 121(3) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 357, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
Marginal Citations
(1)In this Act “the Taxes Act 1988 means the M3Income and Corporation Taxes Act 1988.
(2)Part II of this Act, so far as it relates to capital gains tax, shall be construed as one with the M4Capital Gains Tax Act 1979.
(3)Part III of this Act shall be construed as one with Part I of the M5Oil Taxation Act 1975 and in that Part of this Act “the principal Act means that Act.
The enactments specified in Schedule 19 to this Act (which include certain provisions which are already spent) 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.
This Act may be cited as the Finance Act 1991.
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