HC Deb 20 May 2004 vol 421 cc1145-6

Amendments made: No. 148, in page 263, leave out lines 14 and 15 and inert— 'R is—

  1. (a) a percentage rate two per cent.higher than the Bank of England base rate, or
  2. (b) if regulations so provide, such higher rate as may be prescribed.'.

No. 149, in page 263, line 15, at end insert— '() For the purposes of sub-paragraph (3), any change in the Bank of England base rate is to be treated as taking effect—

  1. (a) at the beginning of the accrual period immediately following the accrual period during which the change took effect, or
  2. (b) if regulations so provide, at such other time as may be prescribed.'.

No. 150, in page 265, leave out lines 33 and 34 and insert— 'R is—

  1. (a) a percentage rate two per cent.higher than the Bank of England base rate, or
  2. (b) if regulations so provide, such higher rate as may be prescribed.'.

No. 151, in page 265, line 34, at end insert— '() For the purposes of sub-paragraph (3), any change in the Bank of England base rate is to be treated as taking effect—

  1. (a) at the beginning of the accrual period immediately following the accrual period during which the change took effect, or
  2. (b) if regulations so provide, at such other time as may be prescribed.'.

No. 152, in page 267, line 44, leave out '1995'.

No. 153, in page 268, leave out lines 41 and 42 and insert— 'R is—

  1. (a) a percentage rate two per cent. higher than the Bank of England base rate, or
  2. (b) if a higher rate is prescribed for the purposes of paragraphs 3B and 7B of Schedule 5, that higher rate.'.

No. 154, in page 268, line 42, at end insert— '() For the purposes of sub-paragraph (3), any change in the Bank of England base rate is to be treated as taking effect—

  1. (a) at the beginning of the accrual period immediately following the accrual period during which the change took effect, or
  2. (b) if regulations so provide, at such other time as may be prescribed.'.

No. 155, in page 269, line 19, after '6)', insert—

  1. (a) before the definition of "beneficiary" insert—
Bank of England base rate" means—
  1. (a) the rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets, or
  2. (b) where an order under section 19 of the Bank of England Act 1998 is in force, any equivalent rate determined by the Treasury under that section.",and
 (b)'. —[Malcolm Wicks.]

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