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Finance Act 1989 (c. 26)

(The document as of February, 2008)

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Finance Act 1989

1989 CHAPTER 26

ARRANGEMENT OF SECTIONS

Content
  1. Part I

    Customs and Excise, Value Added Tax and Car Tax

    1. Chapter I

      Customs and Excise

      1. Hydrocarbon oil duties

        1. 1. Rates.

        2. 2. Reliefs.

      2. Alcoholic liquor duties

        1. 3. Original gravity of beer.

        2. 4. Blending made-wines etc.

        3. 5. Description as beer.

      3. Vehicles excise duty

        1. 6. Rates.

        2. 7. Community buses.

        3. 8. Special machines.

        4. 9. Recovery vehicles.

        5. 10. Powers of Secretary of State with respect to assignment of registration marks.

        6. 11. Retention of registration mark pending transfer to another vehicle.

        7. 12. Sale by Secretary of State of rights to particular registration marks.

        8. 13. Registration documents.

        9. 14. Dishonoured cheques.

      4. General

        1. 15. Estimation of excise duty.

        2. 16. Time limits for proceedings.

        3. 17. Disbursements in Port of London.

    2. Chapter II

      Value Added Tax

      1. Zero-rating etc.

        1. 18. Buildings and land.

        2. 19. Sewerage services and water.

        3. 20. News services.

        4. 21. Fuel and power.

        5. 22. Protective boots and helmets.

        6. 23. Incorrect certificates.

      2. Other provisions

        1. 24. Recovery of overpaid VAT.

        2. 25. Administration etc.

        3. 26. Input tax on self-supplies.

    3. Chapter III

      Miscellaneous

      1. 27. Relief from car tax where vehicle leased to the handicapped.

      2. 28. Reliefs from duties and taxes for persons enjoying certain immunities and privileges.

      3. 29. Recovery of overpaid excise duty and car tax.

  2. Part II

    Income Tax, Corporation Tax and Capital Gains Tax

    1. Chapter I

      General

      1. Income tax rates and allowances

        1. 30. Charge and rates of income tax for 1989-90.

        2. 31. Age allowance.

        3. 32. Operative date for PAYE.

        4. 33. Married couples.

      2. Corporation tax rates etc.

        1. 34. Charge and rate of corporation tax for financial year 1989.

        2. 35. Corporation tax: small companies.

      3. Receipts basis etc.

        1. 36. Schedule E: revised Cases.

        2. 37. Schedule E: assessment on receipts basis.

        3. 38. Schedule E: unpaid emoluments.

        4. 39. Schedule E: unremitted emoluments.

        5. 40. Schedule E: emoluments already paid.

        6. 41. Schedule E: pensions etc.

        7. 42. Schedule E: supplementary.

        8. 43. Schedule D: computation.

        9. 44. Investment and insurance companies: computation.

        10. 45. PAYE: meaning of payment.

      4. Interest

        1. 46. Relief for interest.

        2. 47. Close company loans: business expansion scheme.

        3. 48. Close company loans: material interest.

      5. Benefits in kind

        1. 49. Car benefits.

        2. 50. Security assets and services.

        3. 51. Assets used partly for security.

        4. 52. Security: supplementary.

        5. 53. Employees earning £8,500 or more and directors.

      6. Medical insurance

        1. 54. Relief.

        2. 55. Eligible contracts.

        3. 56. Certification of contracts.

        4. 57. Medical insurance: supplementary.

      7. Charities

        1. 58. Payroll deduction scheme.

        2. 59. Covenanted subscriptions.

        3. 60. British Museum and Natural History Museum.

      8. Profit-related pay, share schemes etc.

        1. 61. Profit-related pay.

        2. 62. Savings-related share option schemes.

        3. 63. Profit sharing schemes.

        4. 64. Share option and profit sharing schemes: shares of consortium member.

        5. 65. Employee share schemes: material interest.

        6. 77. Personal pension schemes.

      9. Unit trusts etc.

        1. 78. Certified unit trusts.

        2. 79. Funds of funds.

        3. 80. Gilt unit trusts.

        4. 81. Offshore funds operating equalisation arrangements.

      10. Life assurance

        1. 82. Calculation of profits.

        2. 83. Receipts to be brought into account.

        3. 84. Interpretation of sections 85 to 89 and further provisions about insurance companies.

        4. 85. Charge of certain receipts of basic life assurance business.

        5. 86. Spreading of relief for acquisition expenses.

        6. 87. Management expenses.

        7. 88. Corporation tax: policy holders' fraction of profits.

        8. 89. Shareholders' and policy holders' fractions.

        9. 90. Life policies etc. held by companies.

      11. Underwriters

        1. 91. Premiums trust funds: stock lending.

        2. 92. Regulations about underwriters etc.

      12. Securities

        1. 93. Deep discount securities: amendments.

        2. 94. Deep gain securities.

        3. 95. Treasury securities issued at a discount.

        4. 96. Securities: miscellaneous.

      13. Groups of companies

        1. 97. Set-off of ACT where companies remain in same group.

        2. 98. Restriction on set-off of ACT.

        3. 99. Dividends etc. paid by one member of a group to another.

        4. 100. Change in ownership of company.

        5. 101. Treatment of convertible shares or securities for purposes relating to group relief etc.

        6. 102. Surrender of company tax refund etc. within group.

      14. Close companies

        1. 103. Repeal of apportionment provisions.

        2. 104. Meaning of "close company".

        3. 105. Small companies' rate not available to certain close companies.

        4. 106. Restriction on payment of tax credits.

        5. 107. Close companies: consequential amendments.

      15. Settlements etc.

        1. 108. Outright gifts etc. betwee

    2. Chapter II

      Capital Allowances

      1. 117. Security.

      2. 118. Security: supplementary.

      3. 119. Expenditure on stands at sports grounds.

      4. 120. Forestry land: abolition of agricultural buildings allowances.

      5. 121. Miscellaneous amendments.

    3. 9 9 9 Chapter III

      Capital Gains

      1. Exemptions

        1. 122. Annual exempt amount for 1989-90.

        2. 123. Increase of chattel exemption.

      2. 9 9 9 Gifts

        1. 124. Relief for gifts.

        2. 125. Gifts to housing associations.

      3. 9 9 9 9 Non-residents etc.

        1. 126. Non-resident carrying on profession or vocation in the United Kingdom.

        2. 127. Non-residents: deemed disposals.

        3. 128. Non-residents: post-cessation disposals.

        4. 129. Non-residents: roll-over relief.

        5. 130. Exploration or exploitation assets: definition.

        6. 131. Exploration or exploitation assets: deemed disposals.

        7. 132. Dual resident companies: deemed disposal.

        8. 133. Dual resident companies: roll-over relief.

        9. 134. Non-payment of tax by non-resident companies.

      4. 9 9 9 9 9 Value shifting and groups of companies

        1. 135. Value shifting.

        2. 136. Value shifting: reductions attributable to distributions within a group.

        3. 137. Value shifting: transactions treated as a reorganisation of share capital.

        4. 138. Groups of companies.

      5. 9 9 9 9 9 9 Miscellaneous

        1. 139. Corporate bonds.

        2. 140. Collective investment schemes.

        3. 141. Re-basing to 1982 etc.

    4. Chapter IV

      Management

      1. Information

        1. 142. Power to call for documents and information.

        2. 143. Power to call for papers of tax accountant.

        3. 144. Restrictions on powers under TMA ss.20 and 20A.

        4. 145. Falsification etc. of documents.

        5. 146. Entry with warrant to obtain documents.

        6. 147. Procedure where documents etc. are removed.

        7. 148. Interpretation.

      2. Assessments, claims etc.

        1. 149. Assessments founded on fraudulent or negligent conduct.

        2. 150. Further assessments: claims etc.

        3. 151. Assessment of trustees etc.

      3. Distress and poinding etc.

        1. 152. Distress for non-payment of tax.

        2. 153. Priority in cases of distraint by others.

        3. 154. Recovery of tax from debtor in Scotland.

        4. 155. Priority in cases of poinding etc. by others in Scotland.

      4. Interest etc.

        1. 156. Interest on overdue tax.

        2. 157. Effect of certain claims on interest.

        3. 158. Small amounts of interest.

        4. 159. Interest on tax in case of failure or error.

        5. 160. Determinations under TMA s.88.

        6. 161. Tax carrying interest under TMA ss.86 and 88.

      5. Penalties

        1. 162. Failure to make return.

        2. 163. Incorrect return, accounts etc.

        3. 164. Special returns, information etc.

        4. 165. Special penalties in the case of certain returns.

        5. 166. Assisting in preparation of incorrect return etc.

        6. 167. Determination of penalties.

        7. 168. Amendments consequential on section 167.

        8. 169. Time limits.

        9. 170. Up-rating of certain penalties.

  3. Part III

    Miscellaneous and General

    1. Inheritance tax

      1. 171. Gifts to housing associations.

      2. 172. Abatement of exemption where claim settled out of beneficiary's own resources.

    2. Stamp duty etc.

      1. 173. Insurance: abolition of certain duties.

      2. 174. Unit trusts.

      3. 175. Stamp duty: stock exchange nominees.

      4. 176. Stamp duty reserve tax: stock exchange nominees.

      5. 177. Stamp duty reserve tax: information.

    3. Interest etc.

      1. 178. Setting of rates of interest.

      2. 179. Provisions consequential on section 178.

      3. 180. Repayment interest: period of accrual.

    4. Miscellaneous

      1. 181. Broadcasting: additional payments by programme contractors.

      2. 182. Disclosure of information.

      3. 183. Government securities: redemption and transfer.

      4. 184. National savings accounts.

      5. 185. Winding up of Redemption Annuities Account.

    5. General

      1. 186. Interpretation etc.

      2. 187. Repeals.

      3. 188. Short title.

  4. Schedules:

    1. Schedule 1

      Vehicles excise duty: rates.

      1. Part I

        Table substituted in Part II of Schedule 2 to the 1971 and 1972 Acts.

      2. Part II

        Tables substituted in Part II of Schedule 4 to the 1971 and 1972 Acts.

    2. Schedule 2

      Vehicles excise duty: special machines.

    3. Schedule 3

      Value added tax: buildings and land.

    4. Schedule 4

      Profit-related pay.

    5. Schedule 5

      Employee share ownership trusts.

    6. Schedule 6

      Retirement benefits schemes.

      1. Part I

        Amendments of Taxes Act.

      2. Part II

        Approved schemes: general.

      3. Part III

        Approved schemes: additional voluntary contributions.

    7. Schedule 7

      Personal pension schemes.

      1. Part I

        Amendments of Taxes Act.

      2. Part II

        Schemes approved before passing of this Act.

    8. Schedule 8

      Amendments of Chapter I of Part XII of Taxes Act 1988 (Insurance Companies).

    9. Schedule 9

      Life policies etc. held by companies.

    10. Schedule 10

      Deep discount securities: amendments.

    11. Schedule 11

      Deep gain securities.

    12. Schedule 12

      Close companies.

      1. Part I

        Administrative provisions.

      2. Part II

        Amendments connected with repeal of Chapter III of Part XI of Taxes Act 1988.

    13. Schedule 13

      Capital allowances: miscellaneous amendments.

    14. Schedule 14

      Capital gains tax: gifts etc.

    15. Schedule 15

      Capital gains: re-basing to 1982 etc.

    16. Schedule 16

      Broadcasting: additional payments by programme contractors.

      1. Part I

        Amendments of the principal sections.

      2. Part II

        Provisions inserted as Schedule 4 to the Broadcasting Act 1981.

      3. Part III

        Transitional provisions.

    17. Schedule 17

      Repeals.

      1. Part I

        Customs and Excise.

      2. Part II

        Vehicles excise duty.

      3. Part III

        Value added tax.

      4. Part IV

        Income and corporation tax: general.

      5. Part V

        Close companies.

      6. Part VI

        Capital allowances.

      7. Part VII

        Capital gains.

      8. Part VIII

        Management.

      9. Part IX

        Stamp duty: insurance.

      10. Part X

        Rates of interest.

      11. Part XI

        Broadcasting.

      12. Part XII

        Government stock: redemption.

      13. Part XIII

        National Savings.

      14. Part XIV

        Tithe redemption.

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.

[27th July 1989]

Most Gracious Sovereign, WE, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom in Parliament assembled, towards raising the necessary supplies to defray Your Majesty's public expenses, and making an addition to the public revenue, have freely and voluntarily resolved to give and grant unto Your Majesty the several duties hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:--



Part I Customs and Excise, Value Added Tax and Car Tax

Chapter I Customs and Excise

<<<< >>>>

Hydrocarbon oil duties

1 Rates

(1) In section 6 of the [1979 c. 14.] Hydrocarbon Oil Duties Act 1979 (duty on light oil and heavy oil)--

(a) in subsection (1), after "(2)" there shall be inserted ", (2A)", and

(b) the following subsection shall be inserted after subsection (2)--

" (2A) The rate of duty for petrol which--

(a) has an anti-knock value below that specified as the minimum for 4 star petrol in the British Standard Specification BS 4040:1988, and

(b) is neither unleaded petrol (within the meaning of section 13A below) nor aviation gasoline,

shall be £0.2122 a litre. "

(2) In section 13A of that Act (rebate on unleaded petrol), for "ВЈ0.0202" there shall be substituted "ВЈ0.0272".

(3) In Part I of Schedule 3 (regulations) to that Act, in paragraph 10A, after the word "Amending" there shall be inserted the words "the description of petrol falling within subsection (2A) of section 6 of this Act or" and for the words "section 6 of this Act" there shall be substituted the words "that section".

(4) This section shall be deemed to have come into force at 6 o'clock in the evening of 14th March 1989.

2 Reliefs

(1) The following section shall be inserted after section 20A of the [1979 c. 5.] Hydrocarbon Oil Duties Act 1979--

" 20AA Power to allow reliefs

(1) The Commissioners may make regulations allowing reliefs as regards--

(a) any duty of excise which has been charged in respect of hydrocarbon oil, petrol substitute, spirits used for making power methylated spirits, or road fuel gas;

(b) any amount which has been paid to the Commissioners under section 12(2) above;

(c) any amount which would (apart from the regulations) be payable to the Commissioners under section 12(2) above.

(2) The regulations may include such provision as the Commissioners think fit in connection with allowing reliefs, and in particular may--

(a) provide for relief to take the form of a repayment or remission;

(b) provide for relief to be allowed in cases or classes of case set out in the regulations;

(c) provide for relief to be allowed to the extent set out in the regulations;

(d) provide for relief to be allowed subject to conditions imposed by the regulations;

(e) provide for relief to be allowed subject to such conditions as the Commissioners may impose on the person claiming relief;

(f) provide for the taking of samples of hydrocarbon oil in order to ascertain whether relief should be allowed or has been properly allowed;

(g) make provision as to administration (which may include provision requiring the making of applications for relief);

(h) make different provision in relation to different cases or classes of case;

(i) include such supplementary, incidental, consequential or transitional provisions as appear to the Commissioners to be necessary or expedient.

(3) The conditions which may be imposed as mentioned in subsection (2)(d) or (e) above may include conditions as to the physical security of premises, the provision (by bond or otherwise) of security for payment, or such other matters as the Commissioners think fit.

(4) Where a person contravenes or fails to comply with any regulation made under this section or any condition imposed by or under such a regulation--

(a) he shall be liable on summary conviction to a penalty of three times the value of any goods in respect of which the contravention or failure occurred or a penalty of an amount represented by level 3 on the standard scale, whichever is the greater, and

(b) any goods in respect of which the contravention or failure occurred shall be liable to forfeiture.

(5) A reference in this section to a duty of excise includes a reference to any addition to such duty by virtue of section 1 of the [1979 c. 8.] (5)Excise Duties (Surcharges or Rebates) Act 1979.

(6) Schedule 5 to this Act shall have effect with respect to any sample of hydrocarbon oil taken in pursuance of regulations made under this section. "

(2) In consequence of subsection (1) above, in paragraph 6 of Schedule 5 to the [1979 c. 5.] (2)Hydrocarbon Oil Duties Act 1979 after "section" there shall be inserted "20AA or".



Alcoholic liquor duties

3 Original gravity of beer

(1) In section 3(5) of the [1979 c. 4.] Alcoholic Liquor Duties Act 1979 (under which the gravity of worts as ascertained by the proper officer is relevant for certain purposes) for the words from "proper officer" to the end there shall be substituted the words "brewer in accordance with subsection (2) above and recorded by him in pursuance of regulations made under section 49 below."

(2) This section applies to worts if the brewer ascertains their gravity in accordance with section 3(2) of the Alcoholic Liquor Duties Act 1979, for the purpose of the record kept by him in pursuance of regulations under section 49 of that Act, on or after the day on which this Act is passed.

4 Blending made-wines etc

(1) Section 55 of the Alcoholic Liquor Duties Act 1979 (charge of excise duty on made-wine) shall be amended as follows.

(2) In subsection (5) (which, where certain conditions are satisfied, lifts the requirement to hold a licence for premises where made-wine is produced), after paragraph (d) there shall be added " and

(e) he does not blend or otherwise mix--

(i) two or more made-wines, or

(ii) one or more made-wines and one or more wines,

so as to produce made-wine the rate of duty applicable to which is higher than the rate applicable to at least one of the constituent liquors. "

(3) After subsection (5) there shall be inserted--

" (5A) For the purposes of subsection (5) above--

(a) the rate of duty applicable to any made-wine is that which is or would be chargeable under subsection (1) above on its importation into the United Kingdom; and

(b) the rate of duty applicable to any wine is that which is or would be chargeable under subsection (1) of section 54 above on its importation into the United Kingdom. "

(4) This section shall have effect in relation to the blending or other mixing of made-wines, or of made-wines and wines, on or after the day on which this Act is passed.

5 Description as beer

Section 73 of the [1979 c. 4.] Alcoholic Liquor Duties Act 1979 (which prohibits anyone from describing as beer any substance on which beer duty has not been paid) shall cease to have effect.



Vehicles excise duty

6 Rates

(1) The Vehicles (Excise) Act 1971 ("the 1971 Act") and the Vehicles (Excise) Act (Northern Ireland) [1972 c. 10 (N.I.).] 1972 ("the 1972 Act") shall be amended as follows.

(2) For the words--

(a) "in the second column of" in paragraph 1 of Schedule 2 to the 1971 Act (rates of duty on hackney carriages), and

(b) "in column 2 of" in paragraph 1 of Schedule 2 to the 1972 Act,

there shall be substituted the words "in relation to its seating capacity in the Table in"; and for the Table in Part II of each of those Schedules there shall be substituted the Table set out in Part I of Schedule 1 to this Act.

(3) In Part II of Schedule 4 to the 1971 Act, for Tables A, A(1) and A(2) (rates for rigid goods vehicles having plated gross weight exceeding 12 tonnes) there shall be substituted the Tables set out in Part II of Schedule 1 to this Act.

(4) The Tables set out in Part II of Schedule 1 to this Act shall also be substituted for Tables A, A(1) and A(2) in Part II of Schedule 4 to the 1972 Act, but modified for that purpose by the substitution for any reference to a plated gross weight of a reference to a relevant maximum weight.

(5) In paragraph 2 of Schedule 4A to the 1971 Act and the 1972 Act (rates of duty for vehicles carrying or drawing exceptional loads) for "ВЈ1,600" there shall be substituted "ВЈ3,100".

(6) In--

(a) subsection (5) of section 16 of the 1971 Act (rates of duty for trade licences), including that subsection as set out in paragraph 12 of Part I of Schedule 7 to that Act, and

(b) subsection (6) of section 16 of the 1972 Act, including that subsection as set out in paragraph 12 of Part I of Schedule 9 to that Act,

for "ВЈ85" and "ВЈ17" there shall be substituted "ВЈ100" and "ВЈ20" respectively.

(7) This section shall apply in relation to licences taken out after 14th March 1989.

7 Community buses

(1) Section 38(1) of the [1971 c. 10.] Vehicles (Excise) Act 1971 shall be amended as follows.

(2) Before the definition of "conditional sale agreement" there shall be inserted--

  • " "community bus" means a vehicle used on public roads solely in accordance with a community bus permit (within the meaning of section 22 of the [1985 c. 67.] Transport Act 1985), and not used for providing a service under an agreement providing for service subsidies (within the meaning of section 63(10)(b) of that Act); " .

(3) In the definition of "hackney carriage", there shall be added at the end the words "but does not include a community bus".

8 Special machines

(1) The amendments of the Vehicles (Excise) Act 1971 and the [1972 c. 10 (N.I.).] Vehicles (Excise) Act (Northern Ireland) 1972 set out in Schedule 2 to this Act shall have effect for the purpose of, or in connection with, replacing certain existing classes of vehicles chargeable with duty under Schedule 3 to each of those Acts with a single class of vehicles, namely that of special machines; and shall so have effect in relation to licences taken out after 14th March 1989.

(2) As from 15th March 1989, paragraph 2 of Schedule 1 to the [1979 c. 5.] Hydrocarbon Oil Duties Act 1979 (vehicles which are not road vehicles within the meaning of that Act) shall have effect with the substitution of the following sub-paragraph for sub-paragraph (b)--

" (b) a special machine within the meaning of Schedule 3 to that Act; " .

9 Recovery vehicles

In paragraph 8(2)(d) of Part I of Schedule 3 to each of the Vehicles (Excise) Act 1971 and the Vehicles (Excise) Act (Northern Ireland) 1972 the words "any load other than" shall be omitted.

10 Powers of Secretary of State with respect to assignment of registration marks

(1) Section 19 of each of the Vehicles (Excise) Act 1971 and the Vehicles (Excise) Act (Northern Ireland) 1972 (registration and registration marks) shall be amended as follows.

(2) After subsection (1) there shall be inserted--

" (1A) The Secretary of State may, in such circumstances as he may determine--

(a) assign a registration mark to a vehicle to which another registration mark has been previously assigned;

(b) assign to a vehicle (whether on its first registration or not) a registration mark previously assigned to another vehicle;

(c) (whether in connection with an assignment falling within either of the preceding paragraphs or not) withdraw any registration mark for the time being assigned to a vehicle;

(d) re-assign to a vehicle a registration mark previously assigned to it but subsequently withdrawn. "

(3) In subsection (2), after the words "registration mark" there shall be inserted the words "for the time being".

(4) Nothing in this section shall be construed as affecting the operation of--

(a) either of the Acts referred to in subsection (1) above, or

(b) any regulations made under either of those Acts,

in relation to any time before the day on which this Act is passed.

11 Retention of registration mark pending transfer to another vehicle

(1) The Secretary of State may by regulations provide for a person in whose name a vehicle is registered to be granted a right, exercisable on a single occasion falling within a specified period, to have the registration mark for the time being assigned to the vehicle assigned to some other vehicle, being a vehicle registered--

(a) in that person's name, or

(b) in the name of some other person nominated by him in accordance with the regulations.

(2) Regulations under this section may, in particular, make provision--

(a) for the manner in which an application for the grant of such a right (referred to in the following provisions of this section as a "right of retention") is to be made to the Secretary of State;

(b) for the payment of a specified fee on the making of such an application and for the whole or part of the fee to be retained whether or not the application is granted;

(c) for requiring the vehicle to which the registration mark in question is for the time being assigned to be made available for inspection at a place designated by or under the regulations;

(d) for authorising the Secretary of State to refuse such an application on such grounds as he thinks fit;

(e) with respect to the manner in which rights of retention are to be exercisable;

(f) for enabling the period referred to in subsection (1) above to be extended by the Secretary of State if he thinks fit in the circumstances of any particular case;

(g) for rights of retention to be non-transferable (but without prejudice to the vesting of any such right in a person by operation of law);

(h) with respect to the conditions which must be satisfied before a registration mark may be assigned to a vehicle in pursuance of a right of retention;

(i) for authorising the Secretary of State to revoke a right of retention--

(i) if it appears to him that there are special reasons for doing so, or

(ii) in any other specified circumstances;

(j) for the payment, in connection with the assignment of a registration mark in pursuance of a right of retention, of such charge as is for the time being prescribed by virtue of section 12(1) of the [1976 c. 40.] Finance Act 1976;

(k) with respect to such incidental, consequential or supplemental matters as appear to the Secretary of State to be necessary or expedient for the purposes of the regulations.

(3) Regulations under this section may make different provision for different cases or circumstances.

(4) The power to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

(5) The assignment by the Secretary of State of any registration mark to a vehicle in pursuance of a right of retention shall be without prejudice to the subsequent exercise by him, in relation to the mark, of any of his powers under subsection (1A) of the principal section (as amended by section 10 above).

(6) In this section--

  • "the principal section" means--

    (a)

    section 19 of the [1971 c. 10.] Vehicles (Excise) Act 1971, or

    (b)

    in relation to Northern Ireland, section 19 of the [1972 c. 10 (N.I.).] Vehicles (Excise) Act (Northern Ireland) 1972;

  • "right of retention" means such a right as is mentioned in subsection (1) above; and

  • "specified" means specified in regulations under this section.

(7) Expressions used in this section or in section 12 below which are also used in the principal section have the same meaning as in that section.

12 Sale by Secretary of State of rights to particular registration marks

(1) This section shall apply to such registration marks that either--

(a) have never been assigned to a vehicle, or

(b) have been so assigned but (as a result of having been subsequently withdrawn) are not for the time being so assigned,

as the Secretary of State may from time to time determine.

(2) The Secretary of State may by regulations make a scheme providing for registration marks to which this section applies to be assigned to vehicles registered in the names of, or of the nominees of, persons who have acquired rights under the scheme to have the marks in question so assigned.

(3) Regulations under this section may, in particular, make provision--

(a) for a person to acquire a right under the scheme to have a particular registration mark to which this section applies assigned to a vehicle registered--

(i) in his name, or

(ii) in the name of some other person nominated by him in accordance with the scheme,

on payment of such sum as is payable in accordance with the scheme in respect of the acquisition of that right;

(b) with respect to--

(i) the manner in which agreements for the sale of such rights (referred to in the following provisions of this section as "relevant rights") may be effected,

(ii) the terms which may be contained in, or incorporated into, such agreements, and

(iii) rights and liabilities arising in connection with such agreements otherwise than under any such terms;

(c) for enabling the Secretary of State to determine as he thinks fit--

(i) the prices at which particular relevant rights are to be sold or (as the case may be) the reserve prices applicable to the sale of any such rights, or

(ii) the manner in which any such prices are to be determined;

(d) with respect to the manner in which relevant rights are to be exercisable;

(e) for relevant rights to be exercisable only on a single occasion falling within a specified period (subject to any provision made by virtue of paragraph (f) below);

(f) for enabling any such period to be extended by the Secretary of State if he thinks fit in the circumstances of any particular case;

(g) for relevant rights to be non-transferable (but without prejudice to the vesting of any such right in a person by operation of law);

(h) with respect to the conditions which must be satisfied before a registration mark may be assigned to a vehicle in pursuance of a relevant right;

(i) for authorising the Secretary of State to revoke a relevant right--

(i) if it appears to him that there are special reasons for doing so, or

(ii) in any other specified circumstances;

(j) for the payment, in connection with the assignment of a registration mark in pursuance of a relevant right, of such charge as is for the time being prescribed by virtue of section 12(1) of the [1976 c. 40.] Finance Act 1976;

(k) with respect to such incidental, consequential or supplemental matters as appear to the Secretary of State to be necessary or expedient for the purposes of a scheme under this section.

(4) Without prejudice to the generality of subsection (3)(b) above, regulations under this section may make provision for authorising the Secretary of State to make arrangements with other persons whereby such persons--

(a) are given authority (whether irrevocable or otherwise) to act on his behalf in offering for sale, and entering into agreements for the sale of, relevant rights in the case of such registration marks, and during such periods, as he may determine;

(b) are required to account to him for sums due to him under such agreements whether they have received any amounts due from the purchasers under the agreements or not; and

(c) may become entitled or subject to such rights or liabilities of the Secretary of State in connection with such agreements as may be specified.

(5) Regulations under this section may make different provision for different cases or circumstances, and may, in particular, exempt assignments of any specified class or description from any charge payable by virtue of subsection (3)(j) above.

(6) The power to make regulations under this section shall be exercisable by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.

(7) Any sums received by the Secretary of State in respect of the sale of relevant rights shall be paid into the Consolidated Fund.

(8) Section 11(5) above shall apply for the purposes of this section as if the reference to a right of retention were a reference to a relevant right.

(9) In this section--

  • "relevant right" means such a right as is mentioned in subsection (3)(a) above; and

  • "specified" means specified in regulations under this section.

13 Registration documents

In section 23 of the [1971 c. 10.] Vehicles Excise Act 1971 as set out in paragraph 20 of Part I of Schedule 7 to that Act, in subsection (1)(d) and (e) (regulations about registration books), for the word "books", in each place where it occurs, there shall be substituted the word "documents".

14 Dishonoured cheques

(1) After section 26 of the Vehicles (Excise) Act 1971 there shall be inserted--

" 26A Dishonoured cheques: additional liability in certain cases

(1) Where a person has been convicted of an offence under section 102 of the [1979 c. 2.] Customs and Excise Management Act 1979 (payment for licence by dishonoured cheque) in relation to a licence issued under this Act, the court shall, in addition to any penalty which it may impose under that section, order him to pay an amount equal to one twelfth of the appropriate annual rate of duty for each month or part of a month in the relevant period.

(2) The relevant period for the purposes of this section is the period which--

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