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The Finance Act 2002, Section 117 (Day Appointed for Cessation of Effect) Order 2005

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Statutory Instruments

2005 No. 2007(C.85)

TAXES

The Finance Act 2002, Section 117 (Day Appointed for Cessation of Effect) Order 2005

Made

20th July 2005

The Treasury, in exercise of the power conferred upon them by section 50(6) of the Finance (No.2) Act 2005(1), after Royal Assent to that Act, make the following Order:

Citation

1.  This Order may be cited as The Finance Act 2002, Section 117 (Day Appointed for Cessation of Effect) Order 2005.

Appointed day

2.  Section 117 Finance Act 2002(2) (power to extend the exceptions in subsection (2) to any market prescribed by order under section 118(3) of the Financial Services and Markets Act 2002(3)) shall cease to have effect on 11th August 2005.

Gillian Merron

Vernon Coaker

Two of the Lords Commissioners of Her Majesty’s Treasury

20th July 2005

Explanatory Note

(This note is not part of the Order)

This Order appoints the 11th August 2005 as the day on which section 117 of the Finance Act 2002 shall cease to have effect. Section 117 contains a power to extend the exceptions in subsection (2) to any market prescribed by order under section 118(3) of the Financial Services and Markets Act 2000. Section 117 is replaced by the new power in section 50(1) and (2) of the Finance (No.2) Act 2005.

This Order does not impose any new costs on business.

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