HC Deb 21 February 1957 vol 565 cc715-6

Resolution reported, That, for the purposes of any Act of the present Session to provide for the dissolution of the Central Electricity Authority and the establishment of a Central Electricity Generating Board and an Electricity Council, it is expedient to provide, as from the date on which the said Authority is dissolved by that Act,—

  1. (a) that, for the purposes of the enactments relating to income tax, and of the enactments relating to the profits tax, the said Council shall be treated as carrying on a trade or business;
  2. (b) that those enactments shall have effect, and shall be deemed always to have had effect, as if the trade or business carried on by the said Authority at any time before the said date had been the trade or business of the said Council, and as if any reference in those enactments to the said Authority were a reference to the said Council;
  3. (c) that those enactments shall have effect, in relation to any time on or after the said date, as if any reference to an Area Board established under the Electricity Act, 1947, included a reference to the said Central Electricity Generating Board;
  4. (d) that, for the purposes of the enactments relating to income tax, the trade carried on by the said Authority shall not be treated as permanently discontinued on the said date, nor shall a new trade be treated as set up and commenced on that date by the said Central Electricity Generating Board or the said Council,
so however that for the purposes of the operation of the said enactments in accordance with the preceding paragraphs anything done by, to or in relation to the said Authority shall be treated as from the said date as if it had been done by, to or in relation to the said Council.

Resolution agreed to.