(1)Section 36A of the [1975 c. 45.] Finance (No. 2) Act 1975 (taxation of benefits in kind provided by means of credit-tokens) shall be amended as follows.
(2)In subsection (1), paragraph (a) and, in paragraph (b), the words " (including any interest paid in connection therewith) " shall cease to have effect; and accordingly in subsection (3) for the words " paragraphs (a) and " there shall be substituted the word " paragraph ".
(3)For subsection (4) there shall be substituted the following subsections—
“(4)In this section ' credit-token ' means, subject to subsection (4B) below, a card, token, document or other thing given to a person by another person who undertakes—
(a)that on the production of it (whether or not some other action is also required) he will supply money, goods and services (or any of them) on credit; or
(b)that where, on the production of it to a third party (whether or not some other action is also required), the third party supplies money, goods and services (or any of them), he will pay the third party for them (whether or not taking any discount or commission).
(4A)For the purposes of subsection (4) above, use of an object to operate a machine provided by the person giving the object, or by a third party, shall be treated as production of the object to that person or, as the case may be, third party.
(4B)In this section—
' credit-token' does not include a voucher within the meaning of section 36, or a cash voucher within the meaning of section 37, of this Act; and
' employee ' has the same meaning as in section 36(4) of this Act.”
(4)This section has effect for the year 1982-83 and subsequent years of assessment.