# Betting, Gaming and Lotteries Act 1963 (repealed), Section 27D: The exempt amount


(1) This section applies for the purpose of calculating the exempt amount for a levy period.
(2) Subsections (3) and (4) apply in relation to—
(a) a person who, at any time in the levy period, is a parent undertaking of one or more other undertakings, and
(b) those other undertakings.
(3) The undertakings are entitled to a single exempt amount of £500,000 between them for the levy period.
(4) The undertakings—
(a) may allocate the exempt amount between them as they think fit, and
(b) must notify the Levy Board in writing of any such allocation, and of any alterations to the allocation.
(5) In any other case, a person’s exempt amount for the levy period is £500,000.
(6) In this section “undertaking” and “parent undertaking” have the meanings given by the Companies Act 2006 (see sections 1161 and 1162 of that Act).

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Source: https://www.legislation.gov.uk/ukpga/1963/2/section/27D (the official version)
Page: https://openlegislation.uk/betting-gaming-and-lotteries-act-1963-repealed/section-27D
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.