The Ports (Levy on Disposals of Land, etc.) Order (Northern Ireland) 1997

1. Introductory Text

2. 1. Title and commencement

3. 2. Interpretation

4. 3. Relevant estate in land — specified description

5. 4. Time of disposal

6. 5. Person making disposal

7. 6. Chargeable disposals

8. 7. Accrual of gains

9. 8. Computation of gains

10. 9. Miscellaneous modifications of tax provisions as applied

11. 10. Market values — disputes

12. 11. Appropriation to trading stock

13. 12. Claims and elections — special cases

14. 13. Payment of levy — general

15. 14. Payment of levy — Article 8(3) and 8(5) cases

16. 15. Interest

17. 16. Payment notice

18. 17. Repayment — error, mistake or recomputation

19. 18. Leases at rents — grant

20. 19. Leases at rents — subsequent disposals of reversions

21. 20. Leases at rents — early termination, renewal or extension

22. 21. Leases at rents — holding over and tacit relocation

23. 22. Leases — adjustment of levy

24. 23. Leases at rents — levy payable by instalments

25. 24. Leases — early termination

26. 25. Operational leases

27. 26. Leases — supplementary

28. 27. Options — computation of gains

29. 28. Options — payment of levy

30. 29. Options — subsequent exercise

31. 30. Option lapsing — recomputation

32. 31. Option lapsing — supplementary

33. 32. Option lapsing etc. — repayment

34. 33. Disposals within wholly-owned group

35. 34. Company ceasing to be member of group

36. 35. Decrease in equity holding

37. 36. Disposal statements

38. 37. Assessment

39. 38. Referee

40. 39. Supplementary requirements

41. 40. Service of documents

42. 41. Penalties

43. Signature

44. 1. SCHEDULE 1

       Meaning of Associated Disposal

       1. 1. For the purposes of this Order, a disposal of relevant...

       2. 2. Subject to paragraph 3, for the purposes of paragraph 1(a),...

       3. 3. A disposal is not reasonably to be regarded as connected...

       4. 4. For the purposes of paragraphs 2 and 3, any question...

    2. SCHEDULE 2

       Modification of Tax Provisions Applying to Levy

       1. 1. Section 21(7) of the 1992 Act shall not apply for...

       2. 2. Section 23(4) of the 1992 Act shall apply for the...

       3. 3. Sections 35 and 36 of, and Schedules 3 and 4...

       4. 4. Section 37(1) of the 1992 Act shall not apply for...

       5. 5. (1) Subject to sub-paragraph (2), section 38(1)(a) of the 1992...

       6. 6. (1) In the application, for the purposes of Article 19...

       7. 7. Section 39(1) and (2) of the 1992 Act shall not...

       8. 8. Sections 48 and 49(2) of the 1992 Act shall apply...

       9. 9. (1) In the application for the purposes of Article 19...

       10. 10. (1) Section 54 of the 1992 Act shall apply for...

       11. 11. Sections 139 and 140 of the 1992 Act shall not...

       12. 12. Sections 152 to 158 and 247 of the 1992 Act...

       13. 13. Section 243(4) of the 1992 Act shall apply for the...

       14. 14. Section 250 of the 1992 Act shall not apply for...

    3. SCHEDULE 3

       Disposal Statements

       1. 1. Totals for disposal period

       2. 2. Individual relevant disposals

       3. 3. There shall be given the date of the disposal and...

       4. 4. A description shall be given of the relevant land or...

       5. 5. A summary of the terms of the disposal shall be...

       6. 6. In the case of a disposal other than a section...

       7. 7. In the case of a disposal which is not a...

       8. 8. In the case of a section 178 or 179 disposal...

       9. 9. The amount of the gain accruing on the disposal shall...

       10. 10. There shall be given— (a) the amount of the levy...

       11. 11. Further information

       12. 12. If a disposal on which by virtue of Article 8(2)...

       13. 13. If in the period between the end of any previous...

       14. 14. If an instalment under Article 23 is payable on the...

       15. 15. Interpretation

       16. 16. In this Schedule references to an independent valuer are references...

45. Explanatory Note