Energy Act 2004 (c. 20)

SCHEDULES

SCHEDULE 9 U.K. Taxation provisions relating to nuclear transfer schemes

Part 4 U.K. Transfer of Nuclear Liabilities Investment Portfolio

Application of Part 4 of Schedule U.K.

31 U.K. This Part of this Schedule applies to a transfer to the Secretary of State in accordance with a nuclear transfer scheme containing provision authorised by section 42 of this Act.

Commencement Information

I1 Sch. 9 para. 31 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

Chargeable gains: assets to be treated as disposed without a gain or a loss U.K.

32 (1) This paragraph applies for the purposes of the 1992 Act where an asset is transferred by a transfer to which this Part of this Schedule applies. U.K.

(2) The asset shall be treated as disposed of to the Secretary of State for a consideration of such amount as would secure that, on the disposal, neither a gain nor a loss accrues to BNFL.

Commencement Information

I2 Sch. 9 para. 32 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1

Neutral effect of transfer for loan relationships and derivative contracts U.K.

33 U.K. No credit or debit shall be required or allowed, in respect of a transfer to which this Part of this Schedule applies, to be brought into account in BNFL’s case—

(a) for the purposes of Chapter 2 of Part 4 of the Finance Act 1996 (c. 8) (loan relationships); or

(b) for the purposes of Schedule 26 to the Finance Act 2002 (c. 23).

Commencement Information

I3 Sch. 9 para. 33 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1