SCHEDULES
SCHEDULE 21

Dissolution of Board of Referees: Consequential Provision
Section 156.

Capital Allowances
1
1
Section 26 of the Capital Allowances Act 1968 (determination and review of percentage rates, for tax purposes, on wear and tear allowances for plant and machinery) shall be amended as follows.
2
In subsection (2) for the words from " a Board of Referees " to " and the Referees " there shall be substituted the words " the tribunal, who ".
3
In the proviso to subsection (2), and in subsection (3), for the word " Referees " in each place where it occurs there shall be substituted the word " tribunal ".
4
For subsection (7) there shall be substituted the following subsection—
7
In this section ' tribunal' means the tribunal established under section 463 of the principal Act.
2
The Income Tax (Applications for Increase of Wear and Tear Percentages) Regulations 1950 shall have effect as if for references to the Board of Referees there were substituted references to the tribunal.

The tribunal
3
1
For paragraph (a) of section 463 of the Taxes Act (constitution of tribunal) there shall be substituted the following paragraph—
a
a chairman, appointed by the Lord Chancellor, and
.
2
In this Schedule " tribunal" means the tribunal established under section 463 of the Taxes Act.

Savings and transitionals
4
1
Section 54 of the Taxes Management Act 1970 (settling of appeals by agreement) shall apply to the tribunal in relation to the exercise of functions transferred by section 156 of this Act as it applied, by virtue of paragraph 8 of Schedule 4 to that Act, to the Board of Referees.
2
Section 156 of this Act shall not affect the validity of anything done by or in relation to the Board of Referees before the commencement of that section ; and anything which at that date is in process of being done by or in relation to the Board may be continued by or in relation to the tribunal.
1968 c. 3.
S.I. 1950/3.
1970 c. 9.