203 Modification of the Agriculture Act 1993
Finance Act 1996 (1996 c 8) | Legislation

203  Modification of the Agriculture Act 1993

(1)     Part I of Schedule 2 to the Agriculture Act 1993 (taxation provisions applying to the reorganisation of the milk marketing boards) shall have effect, and be deemed always to have had effect, in accordance with subsections (2) to (4) below where—

(a)     any approved scheme has made provision as to the functions of a milk marketing board in the period after the transfers taking effect on the vesting day under section 11 of that Act;

(b)     regulations have been made by virtue of section 14(2) of that Act (provision following re-organisation) for giving effect to that provision; and

(c)     a transaction is or has been entered into by that board in pursuance of any obligation under those regulations to carry out those functions so far as they relate to a subsidiary of the board.

(2)     For the purposes of that Part of that Schedule—

(a)     anything done by way of entering into the transaction, or for the purpose of carrying it out, shall be deemed to have been done under and in accordance with the scheme; and

(b)     the terms and other provisions having effect in relation to that transaction by virtue

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