- accounting period
means any period prescribed or allowed for the purposes of section 38 above, • “agreement for carriage”, in relation to the carriage of any person, means the agreement or arrangement under which he is carried, whether the carriage is by a single carrier or successive carriers, • “Air Navigation Order” has the same meaning as in the Civil Aviation Act 1982, • “airport” means any aerodrome (within the meaning of that Act), • “carriage” means carriage wholly or partly by air, and “carried” is to be read accordingly, • “connected”, in relation to any flights, has the meaning given by section 30(8) above, • “document” includes information recorded in any form, • “duty” means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requir
- actual chargeable amount
means the chargeable amount by reference to which tax was paid.
- Air Navigation Order
has the same meaning as in the Civil Aviation Act 1982, • “airport” means any aerodrome (within the meaning of that Act), • “carriage” means carriage wholly or partly by air, and “carried” is to be read accordingly, • “connected”, in relation to any flights, has the meaning given by section 30(8) above, • “document” includes information recorded in any form, • “duty” means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consid
- airport
means any aerodrome (within the meaning of that Act), • “carriage” means carriage wholly or partly by air, and “carried” is to be read accordingly, • “connected”, in relation to any flights, has the meaning given by section 30(8) above, • “document” includes information recorded in any form, • “duty” means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents
- allowed period
means the period of three years or such longer period as the Board may allow ”.
- amount available for relief
has the same meaning as in the appropriate paragraph of that Schedule, and c the “appropriate paragraph” means, as the case may be, paragraph 6, 7(1)(b) or 8(1)(b).”
- appeal tribunal
means the First-tier Tribunal or, where determined by or under Tribunal Procedure Rules, the Upper Tribunal;;
- appliance
includes any device, equipment or apparatus;
- appropriate paragraph
means, as the case may be, paragraph 6, 7(1)(b) or 8(1)(b).”
- appropriate proportion
means such proportion as may be just and reasonable in all the circumstances.”
- arrangements
has the same meaning as in section 410 of the Taxes Act 1988;
- asset
has the meaning given by section 785 of the Taxes Act 1988;
- authorised person
means any person acting under the authority of the Commissioners;
- capital sum
has the meaning given by section 785 of that Act;
- carriage
means carriage wholly or partly by air, and “carried” is to be read accordingly, • “connected”, in relation to any flights, has the meaning given by section 30(8) above, • “document” includes information recorded in any form, • “duty” means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents evidencing an agreement (wherever made) for the carriage of any pe
- cash call
means a request for funds which, in pursuance of a contract made in accordance with the rules and practices of Lloyd’s, is made to a corporate member by the agent of a syndicate of which it is a member;
- cash security
means such adequate security as enables the Commissioners to place the amount in question on deposit.
- certificate of airworthiness
has the same meaning as in the Air Navigation Order.
- claim
means a claim, election or notice as respects which this Schedule applies;
- company
means a body corporate;
- conclusion date
means the date of the document notifying the conclusion of the review
- conduct
includes any act, omission or statement;
- container
has the same meaning as in regulation 38(3) of the Value Added Tax (General) Regulations 1985.
- contravention
includes a failure to comply, and cognate expressions shall be construed accordingly;
- corporate member
means a body corporate which is a member of Lloyd’s and is or has been an underwriting member;
- credit
means credit for which provision is made by regulations under section 55 of this Act;
- customs goods
means any goods mentioned in paragraph (a) of subsection (1) above;
- disposal
has the same meaning as in that paragraph.
- document
includes information recorded in any form, • “duty” means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents evidencing an agreement (wherever made) for the carriage of any person.
- duty
means air passenger duty, • “fiscal representative” has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents evidencing an agreement (wherever made) for the carriage of any person.
- duty of customs
includes any agricultural levy of the European Union.
- electing participator
means a participator who makes or has made an election;
- election
means an election under section 231 above and “electing participator” means a participator who makes or has made an election;
- eligible shares
has the same meaning as in that Chapter. 12 References in this section to Chapter III of Part VII of the Taxes Act or any provision of that Chapter are to that Chapter or provision as it applies in relation to shares issued on or after 1st January 1994”
- employee
means a person holding an office or employment under or with any other person;
- enactment
includes an enactment contained in subordinate legislation within the meaning of the Interpretation Act 1978.
- excepted premium
means a premium under an insurance contract in relation to which, by virtue of subsection (1), the chargeable amount is nil;
- excepted relief
means any relief which is given by the making of a repayment on a claim made under section 137A of the Management Act;
- export
means export from the United Kingdom and cognate expressions shall be construed accordingly;
- filing date
has the same meaning as in section 12AC of this Act;
- fiscal representative
has the meaning given by section 34(2) above, • “flight” has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents evidencing an agreement (wherever made) for the carriage of any person.
- fixture
has the same meaning as it has in Chapter 14 of Part 2 of the Capital Allowances Act;
- flight
has the meaning given by section 28(5) above, • “operator”, in relation to any aircraft, means the person having the management of the aircraft for the time being, • “passenger”, in relation to any aircraft, means any person carried on the aircraft other than— (a) a member of the flight crew, (b) a cabin attendant, or (c) a person who is not carried for reward and who satisfies such other requirements as may be prescribed. • “prescribed” means prescribed by regulations, • “reward”, in relation to the carriage of any person, includes any form of consideration received or to be received wholly or partly in connection with the carriage, irrespective of the person by whom or to whom the consideration has been or is to be given, and • “ticket” means a document or documents evidencing an agreement (wherever made) for the carriage of any person.
- franchise company
has the meaning given by section 85(8) of the Railways Act 1993;
- gas
means such substance as falls within the meaning of oil contained in section 502(1) of the Taxes Act 1988 and is gas of which the largest component by volume, measured at a temperature of 15 degrees centigrade and a pressure of one atmosphere, is methane or ethane or a combination of those gases.”
- group disposal
means a disposal which falls to be treated by virtue of section 171(1) of the Gains Act as made for a consideration such that no gain or loss accrues to the person making the disposal;
- HMRC
means Her Majesty’s Revenue and Customs;
- inspector
includes any officer of the Board;
- insurance business
means a business which consists of or includes the provision of insurance;
- insurance-related service
means any service which is related to, or connected with, insurance;
- insurer
means a person or body of persons (whether incorporated or not) carrying on insurance business;
- journey
means the journey from his original place of departure to his final place of destination, and • “original place of departure” and “final place of destination” mean the original place of departure and the final place of destination indicated on his ticket.
- justice
means a justice of the peace or, in relation to Scotland, a justice within the meaning of section 308 of the Criminal Procedure (Scotland) Act 1995.
- last active underwriting year
has the same meaning as in section 227A above (see subsections (2) to (4) of that section).
- lease
has the meaning given by section 785 of that Act;
- legislation relating to insurance premium tax
means this Part (as defined by subsection (9) below), any other enactment (whenever passed) relating to insurance premium tax, and any subordinate legislation made under any such enactment;
- lifeboat
has the meaning given by paragraph 5(3) above;
- lifeboat equipment
means anything used or to be used solely in connection with a lifeboat.
- listed institution
has the same meaning as in section 43 of that Act.”
- market value
has the same meaning as in section 241 above.
- member
means a member of Lloyd’s who is or has been an underwriting member;
- Minister of the Crown
has the same meaning as in the Ministers of the Crown Act 1975.
- NIAL
means the subsidiary of the Holding Company incorporated under the name of Northern Ireland Airports Limited;
- non-life mutual business
means any mutual trading, or any mutual insurance or other mutual business, which (in either case) is not life assurance business.
- notice
means a notice published, and not withdrawn, by the Commissioners, and • “specified” means specified in such a notice.
- oil
means such substance as falls within the meaning of oil contained in section 502(1) of the Taxes Act 1988 and is not gas;
- operation of a spacecraft
means the launch, flight, orbit or re-entry of a spacecraft, and
- order
means an order made by the Treasury.
- part-exempt contract
has the meaning given by section 69A(7) above;
- partnership claim
means a claim made in accordance with section 42(6)(b) of this Act;
- person travelling
includes a person intending to travel;
- premium trust fund
means a trust fund into which premiums receivable by members are paid in compliance with a trust deed under Rule 8.2.19 of the Prudential Sourcebook for Insurers made by the Prudential Regulation Authority under the Financial Services and Markets Act 2000;
- preparatory transaction
means anything done under or by virtue of Part II of the Railways Act 1993 for the purpose of initiating, advancing or facilitating the qualifying transaction in question;
- prescribed
means prescribed by regulations made by the Board;
- profits
includes gains;
- provided to the insured free of charge
has the meaning given by sub-paragraph (5) of paragraph 2 or 3 above.
- publicly owned railway company
has the same meaning as it has in the Railways Act 1993;
- qualifying disposal
means— (a) a disposal to which paragraph 7(2) below applies;
- qualifying transaction
means— (a) a relevant transfer;
- quota share contract
means any contract between a corporate member and another person which— (a) is made in accordance with the rules or practice of Lloyd’s;
- reckonable date
means the latest date on which a return is required to be made under Chapter IV of Part I of this Act for the accounting period to which the amount assessed or paid relates;
- regulations
means regulations made by the Commissioners under this section.
- regulator
means—
- reinsurance to close premium
means a premium or other consideration under a contract in pursuance of which, in accordance with the rules or practice of Lloyd's, one underwriting member agrees with another to meet liabilities arising from the latter's underwriting business in an underwriting year so that the accounts of the business for that year may be closed.
- relevant Channel tunnel equipment
means, subject to sub-paragraph (5) below, the fixed or movable equipment needed for the operation of the Channel tunnel system or for the operation of trains through any tunnel forming part of it and in particular includes—
- relevant company
means a company which is— (a) a successor company;
- relevant date
means—
- relevant disposal
means—
- relevant duty
means any customs duty or agricultural levy of the European Union or any duty of excise;
- relevant goods
means any electrical or mechanical appliance of a kind— (a) which is ordinarily used in or about the home;
- relevant interest
has the same meaning as in Chapter 3 of Part 3 of the Capital Allowances Act 2001.
- relevant loan interest
has the same meaning as in Part IX of the Taxes Act 1988.
- relevant partner
means a person who was a partner at any time during the period in respect of which the partnership statement was made. 10 Any reference in this section to the representative partner includes, unless the context otherwise requires, a reference to any successor of his.”
- relevant period
means—
- relevant person
means—
- relevant rate matter
means—
- relevant statement
means a statement which, as respects the partnership, falls to be made under section 12AB of this Act for a period which includes, or includes any part of, the year of assessment or its basis period.”
- relevant transfer
means a transfer of any property, rights or liabilities by virtue of a restructuring scheme;
- restructuring scheme
means a section 85 transfer scheme made by, or pursuant to a direction of, the Secretary of State, if and to the extent that the transfer scheme provides for the transfer of property, rights or liabilities from— (a) the Board, (b) a wholly owned subsidiary of the Board, (c) a publicly owned railway company, or (d) a company which is wholly owned by the Franchising Director, to any other body falling within paragraphs (a) to (d) above;
- ring fence trade
means activities which— a fall within any of paragraphs (a) to (c) of subsection (1) of section 492 of the Taxes Act 1988 (oil extraction etc.), and b constitute a separate trade (whether by virtue of that subsection or otherwise). 5 For the purposes of this section— a “oil” means such substance as falls within the meaning of oil contained in section 502(1) of the Taxes Act 1988 and is not gas;
- rolled-up indexation
means, subject to subsections (10) and (11) below, the amount or, as the case may be, the aggregate of the amounts referred to in subsection (7)(b) above;
- rolling stock
has the meaning given by section 83(1) of the Railways Act 1993;
- section 85 transfer scheme
means a scheme made under or by virtue of section 85 of the Railways Act 1993;
- securities
has the meaning given by section 102A(2) of the Financial Services and Markets Act 2000.
- shares
includes stock.
- spacecraft
includes all component parts of its launch vehicle.
- specified
means specified in a notice published, and not withdrawn, by the Commissioners.
- specified persons
means such of the following as may be specified in the regulations— a the Commissioners;
- stop-loss insurance
means any insurance taken out by a corporate member against losses in its underwriting business, except insurance taken out by entering a quota share contract (within the meaning of section 225 above);
- subordinate legislation
has the same meaning as in the Interpretation Act 1978.
- subsidiary
has the meaning given by section 736 of the Companies Act 1985;
- successor company
has the same meaning as it has in Part II of the Railways Act 1993;
- supply
includes all forms of supply;
- supporting documents
includes accounts, books, deeds, contracts, vouchers and receipts.”
- syndicate
means a syndicate of underwriting members of Lloyd’s formed for an underwriting year;
- tax
means insurance premium tax;
- taxable business
means a business which consists of or includes the provision of insurance under taxable insurance contracts;
- the 1973 Regulations
means the Income Tax (Employments) Regulations 1973.
- the 1983 Act
means the Oil Taxation Act 1983 and expressions used in this Chapter have the same meaning as in that Act.
- the 1989 Act
means the Finance Act 1989.
- the 1992 Act
means the Taxation of Chargeable Gains Act 1992, and • “the old indexation rules” means the 1992 Act as it would have effect if— (a) the amendments made by subsections (1) to (5) of section 93 of this Act, and (b) the repeal of section 103 (collective investment schemes, etc.) and section 111 (building societies) of the 1992 Act by subsection (7) of section 93 of this Act, had not come into force.
- the 1993 Act
means the Finance Act 1993;
- the 1993 Regulations
means the Income Tax (Employments) Regulations 1993;
- the appropriate duty
means—
- the appropriate judicial authority
means—
- the asset transferred
means the asset so disposed of;
- the Board
means the British Railways Board;
- the Capital Allowances Act
means the Capital Allowances Act 2001 and includes, where the context admits, enactments which under the Taxes Act 1988 are to be treated as contained in the Capital Allowances Act 2001;
- the Channel tunnel system
means—
- the commencement day
means the day on which the Finance Act 1994 was passed. 2 1 This paragraph applies if— a a settlement was created before 19th March 1991, b on or after the commencement day a person transfers property to the trustees otherwise than under a transaction entered into at arm’s length and otherwise than in pursuance of a liability incurred by any person before that day, c the trustees are not resident or ordinarily resident in the United Kingdom at the time the property is transferred, and d the transferor knows, or has reason to believe, that the trustees are not so resident or ordinarily resident. 2 Before the expiry of the period of twelve months beginning with the relevant day, the transferor shall deliver to the Board a return which— a identifies the settlement, and b specifies the property transferred, the day on which the transfer was made, and the consideration (if any) for the transfer. 3 For the purposes of sub-paragraph (2) above the relevant day is the day on which the transfer is made. 3 1 This paragraph applies if a settlement is created on or after the commencement day, and at the time it is created— a the trustees are not resident or ordinarily res
- the Commissioners
means the Commissioners of Customs and Excise;
- the expenditure relief provisions
means sections 3 and 4 of the principal Act and section 3 of the 1983 Act;
- the filing date
means the day mentioned in section 8(1A) or, as the case may be, section 8A(1A) of this Act.”
- the final accounting period
means the last complete accounting period of NIAL ending before the transfer date;
- the Franchising Director
means the Director of Passenger Rail Franchising;
- the Gains Act
means the Taxation of Chargeable Gains Act 1992;
- the gross amount of tax
means the total amount of tax due before taking into account any deduction for which provision is made by regulations under section 55(3) of this Act.
- the Holding Company
means the Northern Ireland Transport Holding Company established under section 47 of the Transport Act (Northern Ireland) 1967;
- the home
includes any private garden and any private garage or private workshop appurtenant to a dwelling.
- the initial usage fraction
means the fraction of which—
- the liable person
means—
- the Management Act
means the Customs and Excise Management Act 1979;
- the non-exempt premium
means the difference between—
- the Oil Taxation Acts
means Parts I and III of the principal Act, the 1983 Act and any other enactment relating to petroleum revenue tax.
- the old indexation rules
means the 1992 Act as it would have effect if— (a) the amendments made by subsections (1) to (5) of section 93 of this Act, and (b) the repeal of section 103 (collective investment schemes, etc.) and section 111 (building societies) of the 1992 Act by subsection (7) of section 93 of this Act, had not come into force.
- the Order
means the Airports (Northern Ireland) Order 1994 and any reference to an Article is to an Article of the Order;
- the penultimate underwriting year
means the underwriting year immediately preceding that in which the member’s deposit at Lloyd’s is paid over to him or his personal representatives or assigns;
- the preceding holder
means the person who without the modification in question— (a) became, by virtue of the restructuring scheme in question, entitled or subject to the property, rights or liabilities affected by the modification, or (b) remained, notwithstanding the restructuring scheme in question, entitled or subject to the property, rights or liabilities affected by the modification, as the case may be;
- the property
means the building or structure referred to in sub-paragraph (1);
- the relevant date
means the date on which the transfer mentioned in sub-paragraph (2)(a) above takes effect;
- The relevant day
means the day appointed as such by an order.
- the relevant time
means that time. 4 The conditions are that— a the number of trustees is not less than three;
- the relevant underwriting year
means— (a) in the case of a member who dies before his deposit at Lloyd’s is paid over to him or his assigns, the underwriting year immediately preceding that corresponding to the relevant year of assessment;
- the relevant year of assessment
means— (a) in the case of a member who dies before his deposit at Lloyd’s is paid over to him or his assigns, the year of assessment at the end of which he is treated, by virtue of section 179A(2) of this Act, as having died;
- the specified date
means such date as may be specified in the notice concerned, being a date not earlier than one month after the date on which the notice was given.
- the subsequent holder
means the person who, in consequence of the modification in question, becomes, or resumes being, entitled or subject to the property, rights or liabilities affected by the modification.
- the successor company
means the company nominated under Article 51(1) as the successor company for the purposes of the Order;
- the Taxes Act 1988
means the Income and Corporation Taxes Act 1988.
- the transfer date
means the day appointed under Article 54(2);
- the transferred trade
means the trade carried on by NIAL and transferred under Article 54(2) to the successor company.
- the vendor
means the electing participator or other person by whom the asset is disposed of.
- ticket
means a document or documents evidencing an agreement (wherever made) for the carriage of any person.
- trading income
has the same meaning as it has in section 393 of the Taxes Act 1988;
- trading stock
has the same meaning as in section 100 of the Taxes Act 1988.
- transfer scheme
means a scheme made under or by virtue of section 85 or 86 of the Railways Act 1993;
- travel risks
means risks associated with, or related to, travel or intended travel— (a) outside the United Kingdom, (b) by air within the United Kingdom, (c) within the United Kingdom in connection with travel falling within paragraph (a) or (b) above, or (d) which involves absence from home for at least one night, or risks to which a person travelling may be exposed during, or at any place at which he may be in the course of, any such travel.
- underwriting year
means the calendar year.
- unindexed gain
means the amount of the gain on the disposal computed in accordance with this Part”
- unrelieved trading losses
means any losses— (a) which were incurred by the predecessor in carrying on a trade in accounting periods ending before the relevant date, or (b) for which the predecessor has, by virtue of section 343(3) of the Taxes Act 1988, become entitled to relief under section 393(1) of that Act, and which would, apart from the restructuring scheme mentioned in sub-paragraph (2)(a) above, have fallen to be set off under the said section 393(1) against trading income of the predecessor arising in the accounting period in which the relevant date falls;
- unrelieved transferred losses
means so much of a transferred loss as would, apart from the restructuring scheme mentioned in sub-paragraph (2)(a) above, have fallen to be set off under section 393(1) of the Taxes Act 1988, as it applies by virtue of sub-paragraph (3) above, against trading income of the predecessor arising in the accounting period in which the relevant date falls.
- walking possession agreement
means an agreement under which, in consideration of the property distrained upon being allowed to remain in the custody of the person in default and of the delaying of its sale, the person in default—
- wholly owned subsidiary
has the meaning given by section 736 of the Companies Act 1985.
- winter period
means November to February.”