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The Ports Act 1991 (Levy on Disposals of Land, etc.) Order 1992

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  1. Introductory Text

  2. PRELIMINARY

    1. 1.Citation and commencement

    2. 2.Interpretation

  3. GENERAL

    1. 3.Relevant interest in land — Specified description

    2. 4.Time of disposal

    3. 5.Person making disposal

    4. 6.Chargeable disposals

    5. 7.Accrual of gains

    6. 8.Computation of gains

    7. 9.Miscellaneous modifications of tax provisions as applied

    8. 10.Market Values — Disputes

    9. 11.Appropriation to trading stock

    10. 12.Claims and elections — Special cases

  4. PAYMENT — GENERAL

    1. 13.Payment of levy — General

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

    3. 15.Interest

    4. 16.Payment notice

    5. 17.Repayment — Error, mistake or recomputation

  5. LEASES

    1. 18.Leases at rents — Grant

    2. 19.Leases at rents — Subsequent disposals of reversions

    3. 20.Leases at rents — Early termination, renewal or extension

    4. 21.Leases at rents — Holding over and tacit relocation

    5. 22.Leases — Adjustment of levy

    6. 23.Leases at rents — Levy payable by instalments

    7. 24.Leases — Early termination

    8. 25.Operational leases

    9. 26.Leases — Supplementary

  6. OPTIONS

    1. 27.Options–Computation of gains

    2. 28.Options–Payment of levy

    3. 29.Options–Subsequent exercise

    4. 30.Option lapsing–Recomputation

    5. 31.Option lapsing–Supplementary

    6. 32.Option lapsing etc.–Repayment

  7. CHARGEABLE COMPANY'S GROUP

    1. 33.Disposals within wholly-owned group

    2. 34.Company ceasing to be member of group

    3. 35.Decrease in equity holding

  8. ADMINISTRATION ETC.

    1. 36.Disposal statements

    2. 37.Assessment

    3. 38.Referee

    4. 39.Supplementary requirements

    5. 40.Service of Documents

    6. 41.Penalties

  9. Signature

    1. SCHEDULE 1

      MEANING OF ASSOCIATED DISPOSAL

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

      2. 2.For the purposes of sub-paragraph (a) of paragraph 1 above,...

      3. 3.For the purposes of paragraph 2 above, any question whether...

    2. SCHEDULE 2

      MODIFICATION OF TAX PROVISIONS APPLYING TO LEVY

      1. 1.Sections 267 and 268A of the 1970 Act shall not...

      2. 2.Subsection (4) of section 21 of the 1979 Act shall...

      3. 3.Section 31(1) of the 1979 Act shall not apply for...

      4. 4.(1) Subject tosub-paragraph (2) below, paragraph (a) of section 32(1)...

      5. 5.(1) In the application, for the purposes of section 17...

      6. 6.Subsections (1) and (2) of section 33 of the 1979...

      7. 7.Sections 40(2) and 41(2) of the 1979 Act shall apply...

      8. 8.(1) In the application for the purposes of section 17...

      9. 9.Section 108(4) of the 1979 Act shall apply for the...

      10. 10.Sections 111A and 115 to 121 of the 1979 Act...

      11. 11.Section 113 of the 1979 Act shall not apply for...

      12. 12.(1) Section 87(2) of the Finance Act 1982 shall apply...

      13. 13.Sections 96 and 97 of, and Schedules 8 and 9...

    3. SCHEDULE 3

      DISPOSAL STATEMENTS

      1. TOTALS FOR DISPOSAL PERIOD

        1. 1.A disposal statement shall state— (a) the disposal period to...

      2. INDIVIDUAL RELEVANT DISPOSALS

        1. 2.The information required by the following paragraphs 3 to 10...

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

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

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

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

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

        7. 8.In the case of section 278 disposal there shall be...

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

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

      3. FURTHER INFORMATION

        1. 11.There shall be given— (a) a list of all small...

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

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

        4. 14.If an instalment under article 23 is payable on the...

      4. INTERPRETATION

        1. 15.In this Schedule “disposal”— (a) does not, except in paragraphs...

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

  10. Explanatory Note

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