HC Deb 14 July 1980 vol 988 cc418-9W
Mr. Faulds

asked the Chancellor of the Exchequer whether, with reference to his written answer to the hon. Member for Warley, East, Official Report, 25 June, column 203, the Arts Council, the British Council and the Royal Academy of Arts would be treated as public galleries for the purpose of loans of property conditionally exempted from capital transfer tax, in the sense that loans to these bodies would not entail breach by the owners of their undertakings for the preservation of the property in question; and whether loans for which Government indemnities have been approved relieves by virtue of that fact owners from any such breach, in view of section 16(4) of the National Heritage Act 1980.

Mr. Peter Rees

[pursuant to his reply, 3 July 1980, c. 678–79] whether the undertaking in regard to the preservation of property conditionally exempted from capital transfer tax would be breached would depend upon the circumstances of the loan in each case. However, where a Government indemnity had been given in respect of such property which was on loan for public exhibition, a breach of undertaking would not normally arise.