In this Part—

• “increase in consideration” means an increase in the consideration due on a supply made by a taxable person which is evidenced by a credit or debit note or any other document having the same effect and “decrease in consideration” is to be interpreted accordingly;

• “insolvent person” means—

  1. a

     an individual who has been adjudged bankrupt;

  2. b

     a company in relation to which—

     1. i

        a voluntary arrangement under Part I of the Insolvency Act 19865 has been approved,

     2. ii

        an administration order has been made,

     3. iii

        an administrative receiver has been appointed,

     4. iv

        a resolution for voluntary winding up has been passed, or

     5. v

        an order for its winding-up has been made by the court at a time when it had not already gone into liquidation by passing a resolution for voluntary winding-up;

• F1“investment gold” has the same meaning as that expression has for the purposes of Group 15 of Schedule 9 to the Act;

• “negative entry” means an amount entered into the VAT account as a negative amount;

• “positive entry” means an amount entered into the VAT account as a positive amount;

• “VAT allowable portion”, “VAT payable portion” and “VAT account” have the meanings given in regulation 33;

• “the Removal Order” means the Value Added Tax (Removal of Goods) Order 19926;

• “the owner” has the same meaning as in article 2 of the Removal Order.