Article 2 The trading scheme: phases and application

(1)

This Order establishes a trading scheme in relation to scheme activities for a trading period of seven phases which comprise—

(a)

a first phase of three years commencing on 1st April 2010;

(b)

a second phase of seven years commencing on 1st April 2011;

(c)

subsequent phases of seven years commencing as shown in the following table—

Third to seventh phases: commencement dates

	Commencement date of phase
Third phase	1st April 2016
Fourth phase	1st April 2021
Fifth phase	1st April 2026
Sixth phase	1st April 2031
Seventh phase	1st April 2036

(2)

This Order does not apply to an organisation which enjoys an exemption or relief from taxes under Schedule 1 to the International Organisations Act 1968^f1.

Annotations

Footnotes

f1: 1968 c. 48. Schedule 1 to the Act was amended by section 55(5) and (7) of the Finance Act 1972 (c. 41) and section 177(1) and paragraph 12 of Schedule 4 to the Customs and Excise Management Act 1979 (c. 2).