Regulation 3 Amendment of Schedule 1A to the principal Regulations

In Schedule 1A to the principal Regulations (assets not to be disregarded as payments under regulation 19(1)(d))^f1—

(a)

in paragraph 5(a)^f2 for the words “paragraphs 1 to 4 or 9A” there shall be substituted the words “paragraphs 1 to 4, 9ZA, 9ZB or 9A”;

(b)

after paragraph 9 there shall be inserted the following paragraphs—

“9ZA

Any alcoholic liquor.

9ZB

Any gemstone.”;

(c)

in paragraph 9A^f3 for the words “paragraphs 1 to 4 or 6 to 9” there shall be substituted the words “paragraphs 1 to 4 or 6 to 9ZB”;

(d)

after paragraph 16 there shall be added the following paragraphs—

“17

In paragraph 9ZA of this Schedule “alcoholic liquor” means any alcoholic liquor within the meaning of section 1 of the Alcoholic Liquor Duties Act 1979^f4 in respect of which no duty has been paid under that Act.

18

In paragraph 9ZB of this Schedule “gemstone” includes stones such as diamond, emerald, ruby, sapphire, amethyst, jade, opal or topaz and organic gemstones such as amber or pearl, whether cut or uncut and whether or not having an industrial use.”.

Annotations

Footnotes

f1: Schedule 1A was inserted by regulation 5 of S.I. 1991/2505; the relevant amending instrument is S.I. 1993/2925.
f2: Paragraph 5(a) was amended by S.I. 1993/2925.
f3: Paragraphs 9A, 9B, 15 and 16 were inserted into Schedule 1A by S.I. 1993/2925.
f4: 1979 c. 4. Section 1 was amended by S.I. 1979/241, article 5; the Finance Act 1984 (c. 43), section 1(5); the Finance Act 1988 (c. 39), Schedule 1, Part II, paragraph 1 and Schedule 14, Part I; the Finance Act 1993 (c. 34), section 3(1) and (3).