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 six phases which comprise—

(a)

five consecutive phases, each of five years, where the initial phase commences on 1st April 2014; and

(b)

a final phase of four years, commencing on 1st April 2039.

(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).