2005 No. 2007(C.85)

TAXES

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

Made

The Treasury, in exercise of the power conferred upon them by section 50(6) of the Finance (No.2) Act 20051, after Royal Assent to that Act, make the following Order:

Citation1

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

Appointed day2

Section 117 Finance Act 20022 (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 20023) shall cease to have effect on 11th August 2005.

Gillian MerronVernon CoakerTwo of the Lords Commissioners of Her Majesty’s Treasury

(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.