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Proceeding contribution from William Cash (Conservative) in the House of Commons on Tuesday, 19 February 2008. It occurred during Debate on bill and Committee of the Whole House (HC) on Banking (Special Provisions) Bill.

Banking (Special Provisions) Bill

I do not know whether my hon. Friend will reach clause 10, which is entitled ““Tax consequences””, but does it worry him that the arrangements that it sets out constitute carte blanche, especially given the width of the orders,"““in connection with…or in consequence of””" the transfer of property and so on, and the fact that the "““provision that may be made by the regulations includes provision for or in connection with…a tax provision not to apply””?" In other words, clause 10 could lead to no tax being paid and total tax relief being given in all the circumstances that the provision outlines.

Secondary information

Type
Proceeding contribution
Reference
472 c184 
Session
2007-08
Chamber / Committee
House of Commons chamber
Subjects
Compensation Accountability Audit Banks Competition Building societies Bank of England Liability EU law Government assistance Financial Services Authority Economic situation Property transfer Mortgages Loans Staff Office of Fair Trading Nationalisation Regulation Stocks and shares Shareholders Takeovers Treasury Virgin Group Business plans Northern Rock Granite Sunset clauses
Legislation
Banking (Special Provisions) Bill 2007-08
Link
View this Proceeding contribution on www.publications.parliament.uk