HC Deb 05 July 1960 vol 626 c372
Sir E. Boyle

I beg to move, in page 54, line 28, to leave out from "rights" to the end and insert: the date of payment, in the case of income not paid to unit holders, being taken to be—

  1. (a) the date or latest date provided by the terms of the scheme for any distribution in respect of the distribution period in question;
  2. (b) if no date is so provided, the last day of the distribution period.
(2) Without prejudice to the generality of the foregoing subsection". This Amendment simply fixes the date on which income not paid to unit holders is to be regarded as arising to them for tax purposes under the new arrangements for unit trusts. As it does no more than that, in the circumstances, I do not think that I need trouble the Committee with a long speech.

Amendment agreed to.

Clause, as amended, ordered to stand part of the Bill.