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The Value Added Tax (Terminal Markets) (Amendment) Order 1981

S.I. 1981/338 · Made 5 March 1981

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

VALUE ADDED TAX

Made 5th March 1981

Laid before the House of Commons 13th March 1981

Coming into Operation 6th April 1981

The Treasury, in exercise of the powers conferred on them by sections 26 and 43(1) of the Finance Act 1972f1 and of all other powers enabling them in that behalf, hereby make the following Order:—

Annotations to the whole text

Footnotes

f1

, to which there are substantial amendments, not relevant to this Order, made by the Finance Act 1977 (c. 36).

Contents

  1. 1Article 1
  2. 2Article 2
  3. 3Article 3
  4. Signature
  5. Explanatory note

1

This Order may be cited as the Value Added Tax (Terminal Markets) (Amendment) Order 1981 and shall come into operation on 6th April 1981.

2

Paragraph (2) of article 2 of the Value Added Tax (Terminal Markets) Order 1973f1 (hereinafter called “the said Order”) shall be amended as follows:

(a)

by inserting the words “the International Petroleum Exchange of London,” under the words “the London Wool Terminal Market,”; and

(b)

by inserting the words “the London Potato Futures Market,” under the words inserted by (a) above.

3

Paragraph (2)(b)(ii) of article 3 of the said Order shall be amended by inserting the words “the International Petroleum Exchange of London, the London Potato Futures Market,” after the words “the London Coffee Terminal Market,”.

Signature

John Wakeham

J.A. Cope

Two of the Lords Commissioners of Her Majesty's Treasury

5th March 1981

Explanatory note

This Order amends the Value Added Tax (Terminal Markets) Order 1973. It extends the zero-rating contained in that Order to supplies in the course of dealings on the International Petroleum Exchange of London and on the London Potato Futures Market.