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Finance Act 1998
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- 1998 c. 36
- SCHEDULE 13
- Part I
- Claims
- Section 19
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- Act amendment to earlier affecting provision SI 2007/1050 reg. 3-12 by 2009 c. 4 Sch. 2 para. 131
- Act applied in part (with modifications) by S.I. 2007/1050 reg. 3-12 (This SI is amended by 2009 c. 4 Sch. 2 para. 131)
- Blanket amendment text amended by S.I. 2011/1043 art. 3 4
- Blanket amendment text amended by S.I. 2011/1043 art. 3 6
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Commencement Orders bringing provisions within this Act into force:
- S.I. 2008/2302 art. 2 commences (1998 c. 36)
- S.I. 2009/1022 art. 2 commences (1998 c. 36)
Commencement Orders bringing legislation that affects this Act into force:
- S.I. 2003/88 art. 2 3 commences (2002 c. 23)
- S.I. 2003/1900 art. 2 commences (2003 c. 21)
- S.I. 2003/3142 art. 2-4 commences (2002 c. 11 and 2003 c. 21)
- S.I. 2005/1126 art. 2 commences (2005 c. 11)
- S.I. 2006/3399 art. 2 commences (2006 c. 25)
- S.I. 2008/568 art. 2 commences (2007 c. 11)
- S.I. 2009/402 art. 2 commences (2008 c. 9)
- S.I. 2009/403 art. 2 commences (2008 c. 9)
- S.I. 2009/404 art. 2 commences (2008 c. 9)
- S.I. 2009/405 art. 2 commences (2008 c. 9)
- S.I. 2009/511 art. 2 commences (2008 c. 9)
- S.I. 2009/571 art. 2-5 commences (2008 c. 9)
- S.I. 2011/892 art. 2 3 Commencement Order
19(1)In subsection (1) of section 306 of the Taxes Act 1988, after the word “assessment", in the first place where it occurs, there shall be inserted the words “ (or treated by section 289B(5) as so issued) ”.E+W+S+N.I.
(2)In subsection (2) of that section, for the words “the conditions for the relief, so far as applying to the company and the trade," there shall be substituted the words “ , except so far as they fall to be satisfied by that person, the conditions for the relief ”.
(3)For subsection (3) of that section there shall be substituted the following subsection—
“(3)Before issuing a certificate for the purposes of subsection (2) above a company shall furnish the inspector with a statement to the effect that, except so far as they fall to be satisfied by the persons to whom eligible shares comprised in the share issue have been issued, the conditions for the relief—
(a)are satisfied in relation to that issue; and
(b)have been so satisfied at all times since the beginning of the relevant period.”
(4)In subsection (3A) of that section, the words “but section 289B(5) shall not apply for the purposes of this subsection" shall cease to have effect.
(5)For subsections (4) and (5) of that section there shall be substituted the following subsections—
“(4)No certificate shall be issued for the purposes of subsection (2) above without the authority of the inspector; but where the company, or a person connected with the company, has given notice to the inspector under section 310(2) or paragraph 16(2) or (4) of Schedule 5B to the 1992 Act, the authority must be given or renewed after the receipt of the notice.
(5)Any statement under subsection (3) above shall be in such form as the Board may direct and shall contain—
(a)such additional information as the Board may reasonably require, including in particular information relating to the persons who have requested the issue of certificates under subsection (2) above;
(b)a declaration that the statement is correct to the best of the company’s knowledge and belief; and
(c)such other declarations as the Board may reasonably require.”
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