Finance Act 2000

27 Security for customs and excise duties

(1) Section 157 of the [1979 c. 2.] Customs and Excise Management Act 1979 (bonds and security) is amended as follows.

(2) In subsection (1) (power to require security), for “by bond” substitute “(or further security) by bond, guarantee”.

(3) After that subsection insert—

“(1A) For the purposes of this section “condition in connection with excise” includes a condition in connection with excise duty charged, under the law of a member State other than the United Kingdom, on—

(a) manufactured tobacco,

(b) alcohol or alcoholic beverages, or

(c) mineral oils.

The expressions used in paragraphs (a) to (c) above have the same meaning as in Council Directive 92/12/EEC.”.

(4) In subsection (2) (bonds for the purposes of assigned matters), after “Any bond” insert “, guarantee or other security”.

(5) In paragraph (a) of that subsection (bonds to be taken on behalf of Her Majesty), for “on behalf of Her Majesty” substitute “either on behalf of Her Majesty or on behalf of Her Majesty and the tax authorities of each member State other than the United Kingdom”.

(6) At the end of that subsection add—

“In this subsection “assigned matter” includes any excise duty charged as mentioned in subsection (1A) above.”.