SCHEDULES

SCHEDULE 7 E+W+S Transitional Provisions

Part I E+W+S Modifications of this Act relating to the system of Vehicle Licensing and Registration etc.

Issue, exhibition, exchange, surrender, etc. of licences E+W+S

12 Section 16 shall have effect as if for subsections (4) and (5) there were substituted the following subsections—

“(4) [F1 Subject to subsections (4A) and (4B) below, a trade licence] may be taken out either for one calendar year or, [F2 for a period of six months beginning with the first day of January or of July]

(5) The rate of duty applicable to a trade licence taken out for a calendar year shall be [F3 £100] or, if the licence is to be used only for vehicles to which Schedule 1 to this Act relates, [F3 £20]; and the rate of duty applicable to a licence taken out for a period of [F4 six months] shall be [F4 eleven twentieths] of the rate applicable to the corresponding trade licence taken out for a calendar year, any fraction of 5p being treated as 5p if it exceeds 2·5p but otherwise being disregarded.”

Textual Amendments

F1 Words substituted by Finance Act 1986 (c. 41, SIF 107:2), s. 3(7)(8), Sch. 2 Pt. I para. 4(5)(a)

F2 Words substituted by Finance Act 1986 (c. 41, SIF 107:2), s. 3(7)(8), Sch. 2 Pt. I para. 4(5)(c)

F3 Figure substituted by virtue of Finance Act 1989 (c. 26, SIF 107:2), s. 5(6)(7) (in relation to licences taken out after 14.3.1989)

F4 Words substituted by Finance Act 1986 (c. 41, SIF 107:2), s. 3(7)(8), Sch. 2 Pt. I para. 4(7)(b)