HC Deb 27 October 1966 vol 734 cc1407-8

Amendment made: In page 76, line 44, at end insert: 'the relevant Schedules' means Schedules 4, 5, 7, (Allowance in respect of estate duty), (Deductions from levy in respect of capital gains tax and corporation tax), 8, (Credit carried forward from previous chargeable act or event) and 9 to this Act and includes any regulations made under any of those Schedules.—[Mr. Willey.]

Mr. Baker

I beg to move Amendment No. 244, in page 78, line 23, after 'to', to insert 'a security constituted by'.

Throughout these debates, a number of my right hon. and hon. Friends have stressed that neither the Law Officers nor the Chancellor have been present and that in many ways this has held up our debates. I think it only courteous to point out that the Under-Secretary of State for Scotland has been assiduous in his attention here in looking after the interests of Scotland, together with myself. I therefore hope that as the hon. Gentleman was so good as to seek to accept, in principle at least, some of the former Amendments which I moved on behalf of my hon. Friends, he will see his way to accepting this one.

If we examine subsection (7) of the Clause, we find that the Bill assumes that an ex facie absolute disposition automatically involves a debtor-creditor relationship. In other words, the subsection assumes that there is in existence a heritable security. This is not by any means the only case.

9.0 p.m.

The position arises equally when heritable land is held in or on trust. In addition, in any straightforward transaction with no question of loan or mortgage arising, the disposition is ex facie an absolute one.

My Amendment seeks to clarify the intention of subsection (7) of Clause 80 of the Bill.

The Under-Secretary of State for Scotland (Dr. J. Dickson Mabon)

This is an acceptable Amendment to the Government which clarifies the intention.

Amendment agreed to.

Further Amendment made: In page 78, line 29, leave out 'Schedules 4 to 9' and insert: 'the relevant Schedules and Schedules (Assessment of levy on acquisition by Commission) and (Death, bankruptcy, winding up and floating charges)'.—[Mr. Willey.]