Broadcasting Act 1996 (c. 55)

SCHEDULES

SCHEDULE 7 U.K. Transfer schemes relating to BBC transmission network: taxation provisions

Interpretation U.K.

1 (1) In this Schedule, unless the context otherwise requires— U.K.

• F1 . . .

• “the BBC transmission network” has the meaning given by section 131(2);

• [F2 “the Capital Allowances Act” means the Capital Allowances Act 2001 and includes, where the context admits, enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act 2001.]

• “direct disposal scheme” means a transfer scheme which is not a preparatory scheme;

• “direct disposal transfer” means a transfer in accordance with a direct disposal scheme;

• “the documents regulating the BBC” includes—

  (a)

  the M1 Royal Charter of 1st May 1996 for the continuance of the British Broadcasting Corporation; and

  (b)

  the M2 Agreement dated 25th January 1996 between Her Majesty’s Secretary of State for National Heritage and the British Broadcasting Corporation;

• “the Gains Act” means the M3 Taxation of Chargeable Gains Act 1992;

• “modification agreement” has the meaning given by paragraph 7(7) of Schedule 5;

• “preparatory scheme” means a transfer scheme whose main purpose is to provide for a transfer of property, rights or liabilities from the BBC to a wholly-owned subsidiary of the BBC;

• “preparatory transfer” means a transfer in accordance with a preparatory scheme;

• “relevant transfer” means a transfer in accordance with a transfer scheme;

• “successor company” means a company to which property, rights or liabilities are transferred in accordance with a preparatory scheme at a time when the company is a wholly-owned subsidiary of the BBC;

• “the Taxes Act 1988” means the M4 Income and Corporation Taxes Act 1988;

• “transfer”, except for the purposes of paragraphs 13 to 18, includes—

  (a)

  any transfer effected by or under an agreement or instrument entered into or executed in pursuance of an obligation imposed by a provision contained in a transfer scheme by virtue of paragraph 2(1)(g) of Schedule 5;

  (b)

  the creation of interests, rights or liabilities by or under any such agreement or instrument; and

  (c)

  the creation of interests, rights or liabilities by virtue of any provision contained in a transfer scheme by virtue of paragraph 2 of Schedule 5;

  and references to a transfer in accordance with a transfer scheme (or any description of transfer scheme) shall be construed accordingly;

• “transferee”—

  (a)

  in relation to a transfer scheme, means a person to whom property, rights or liabilities are transferred in accordance with the transfer scheme; and

  (b)

  in relation to a relevant transfer, means the person to whom the property, rights or liabilities in question are transferred in accordance with the transfer scheme in question;

• “wholly-owned subsidiary” has the meaning given by [F3 section 1159 of the Companies Act 2006] .

(2) In any provision of this Schedule “the prescribed amount”, in relation to any transferee under a transfer scheme, means such amount as may be specified by the Secretary of State by order for the purposes of that provision in its application to that transferee.

(3) This Schedule—

(a) so far as it relates to corporation tax, shall be construed as one with the Corporation Tax Acts, and

(b) so far as it relates to capital allowances, shall be construed as one with the [F4 the Capital Allowances Act].

Textual Amendments

F1 Sch. 7 para. 1(1): definition of “the Allowances Act” repealed (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), 580, Sch. 2 para. 97(1), Sch. 4

F2 Sch. 7 para. 1(1): definition of “the Capital Allowances Act” substituted (22.3.2001 with effect as mentioned in s. 579(1) of the amending Act) for definition of “the capital Allowances Acts” by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 97(1)

F3 Words in Sch. 7 para. 1(1) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 1(2), Sch. 1 para. 162(d) (with art. 10)

F4 Words in Sch. 7 para. 1(3)(b) substituted (22.3.2001 with effect as mentioned s. 579(1) of the amending Act) by 2001 c. 2, ss. 578, 579(1), Sch. 2 para. 97(2)

Marginal Citations

M1 Cm. 3248.

M2 Cm. 3152.

M3 1992 c. 12.

M4 1988 c. 1.