Regional Development Agencies Bill — Activities of agencies in rural areas — 1 Apr 1998

As amended (in the Standing Committee), considered.

[ Relevant documents: First Report from the Environment, Transport and Regional Affairs Committee, Session 1997-98, on Regional Development Agencies (HC 415) and the Government's Response thereto (HC 645); Fourth Report from the Education and Employment Committee, Session 1997-98, on The Relationship between TECs and the proposed Regional Development Agencies (HC 265). ]

New clause 2

Stamp duty

'.--(1) Stamp duty shall not be chargeable on--

(a) a transfer scheme, or

(b) an instrument or agreement which is certified to the Commissioners of Inland Revenue by a Minister of the Crown as made in pursuance of a transfer scheme.

(2) No instrument or agreement which is certified as mentioned in subsection (1)(b) shall be taken to be duly stamped unless--

(a) it is stamped with the duty to which it would, but for that subsection, be liable, or

(b) it has, in accordance with section 12 of the Stamp Act 1891, been stamped with a particular stamp denoting that it is not chargeable with any duty or that it is duly stamped.

(3) Section 12 of the Finance Act 1895 shall not operate to require--

(a) the delivery to the Inland Revenue of a copy of this Act, or

(b) the payment of stamp duty under that section on any copy of this Act,

and shall not apply in relation to any instrument on which, by virtue of subsection (1), stamp duty is not chargeable.

(4) In subsection (1), "transfer scheme" means--

(a) an order under section 29 which includes provision for the transfer of property, rights or liabilities, and

(b) a scheme under any of sections 38 to 41 and paragraph 1 of Schedule 3 for the transfer of property, rights or liabilities.'.-- [Mr. Caborn.]

Brought up, and read the First time.

I beg to move, That the clause be read a Second time.

Madam Speaker:

With this, it will be convenient to discuss Government amendments Nos. 13 and 14.

Question put and agreed to .

Clause read a Second time, and added to the Bill .

I beg to move, That the clause be read a Second time.

Madam Speaker:

With this, it will be convenient to discuss amendment No. 1, in clause 7, page 3, line 39, at end insert

It being half-past Five o'clock, Mr. Deputy Speaker, pursuant to the Order [27 March] and the Resolution [this day], put forthwith the Question already proposed from the Chair.

Question put, That the clause be read a Second time:--

The House divided: Ayes 166, Noes 295.

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