§ 230 Schedule 8, page 93. leave out lines 27 and 28.
§ 234 Page 93, line 49, at end insert—
|'1975 c. 45.||The Finance (No. 2) Act 1975.||In section 71(6), the words "section 30 of the Finance Act 1952.".'.|
§ 238 Page 94, line 25, at end insert—
|'1985 c. 17.||The Reserve Forces (Safe-guard of Employment) Act 1985.||In section 13, the word "—(a)"; the words from "or, (b)" to "estate,"; the word "—(i)"; and the words from "or, (ii)" to "1913,".'.|
§ It has been generally recognised throughout the Bill's passage that any changes in relation to Crown preference have to be made on a Great Britain basis and therefore the provisions of this Bill should be in line with those in the Insolvency Bill. These amendments reflect the changes that have been made to the Insolvency Bill, which, as I have earlier said, this House will be considering again next week.
§ I would propose to outline only those amendments which have significant policy implications. First, the existing preference for assessed taxes, including local authority rates, has been abolished by Amendments Nos. 177 and 182. That follows the undertaking which 670 I gave in this House at the Committee stage of the Insolvency Bill and represents a considerable reduction in the preference afforded to the Crown. The other reduction of the Crown's preference is achieved by Amendments Nos. 179 and 191, which reduce the preference period for value added tax debts from twelve months to six months. This is in line with the amendment which was proposed by my noble friend Lord Mottistone and agreed to by this House during the Third Reading of the Insolvency Bill. I beg to move.
§ Moved, That this House do agree with the Commons in the said amendments.—(Lord Cameron of Lochbroom.)
§ On Question Motion agreed to.