§
5.—(1) In this Schedule—
the commencement date" means the date of the coming into force of this Schedule;
general consent" means a consent under any section to which sub-paragraph (2) below applies given generally within the meaning of subsection (4) of that section;
taxable" means liable to tax on income by reason of domicile, residence or place of management;
the transitional period" means the period of five years beginning with the commencement date;
Treasury consent" means a consent under any section to which sub-paragraph (2) below applies given for the purposes of subsection (1)(a) of that section.
§ (2) This sub-paragraph applies to the following sections (restrictions on the migration etc. of companies), namely—
- section 765 of the Taxes Act 1988;
- section 482 of the Taxes Act 1970;
- section 468 of the Income Tax Act 1952; and
- section 36 of the Finance Act 1951.
§ (3) Any question which arises under any of the provisions of this Schedule shall be determined without regard to the provision made by section 65(1) of this Act.'.—[Mr. Norman Lamont.]
§ Brought up, read the First and Second time, and added to the Bill.