Paragraph 2

United Kingdom

(1)

The amounts required to be paid by any company under general business levies imposed by the Board in any financial year shall not exceed one per cent. of any income of the company for the year ending last before the beginning of that financial year which is income liable to the general business levy.

(2)

The amounts required to be paid by any company under long term business levies imposed by the Board in any financial year shall not exceed one per cent. of any income of the company for the year ending last before the beginning of that financial year which is income liable to the long term business levy.

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(a)

Act continued for certain purposes (subject to modifications) (1.12.2001) by S.I. 2001/2967, arts. 1(2), 9, 11, Sch. 1 Pt. I; S.I. 2001/3538, art. 1(2)

Notes on Schedule 3

Modifications

C1

Power to amend Sch. 3 conferred by Insurance Companies Act 1982 (c. 50, SIF 67), s. 67(4)

Sch. 3: functions made exercisable by, or by employees of, such person as may be authorised in that behalf by the Treasury (18.11.1998) by S.I. 1998/2842, art. 2, Sch. Pt. II para. 63(e)