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Finance Act 1998

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Changes over time for: Paragraph 4

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Point in time view as at 28/07/2000.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 1998, Paragraph 4. Help about Changes to Legislation

4(1)In section 31 of the 1984 Act, in subsection (1) (property capable of designation under that section), for paragraph (a) there shall be substituted the following paragraphs—U.K.

(a)any relevant object which appears to the Board to be pre-eminent for its national, scientific, historic or artistic interest;

(aa)any collection or group of relevant objects which, taken as a whole, appears to the Board to be pre-eminent for its national, scientific, historic or artistic interest;.

(2)In subsections (2) and (3) of that section, for “(1)(a)", wherever occurring, there shall be substituted “ (1)(a) or (aa) ”.

(3)For subsection (5) of that section, there shall be substituted the following subsection—

(5)In this section—

  • 'national interest’ includes interest within any part of the United Kingdom; and

  • 'relevant object’ means—

    (a)

    a picture, print, book, manuscript, work of art or scientific object, or

    (b)

    anything not falling within paragraph (a) above that does not yield income;

and in determining under subsection (1)(a) or (aa) above whether an object or a collection or group of objects is pre-eminent, regard shall be had to any significant association of the object, collection or group with a particular place.

(4)This paragraph has effect in relation to the making of any designation on a claim made on or after the day on which this Act is passed.

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