Finance Act 1990
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
57 Deep gain securities.
(1) In Schedule 11 to the Finance Act 1989 (deep gain securities) paragraph 1 (meaning of deep gain security) shall be amended as follows. (2) The following sub-paragraph shall be inserted after sub-paragraph (3)— (3A) In the case of a security issued on or after 9th June 1989, for the purposes of sub-paragraph (2) above “redemption” does not include any redemption which may be made before maturity only if— (a) the person who issued the security fails to comply with the duties imposed on him by the terms of issue, (b) the person who issued the security becomes unable to pay his debts, or (c) the security was issued by a company and a person gains control of the company in pursuance of the acceptance of an offer made by that person to acquire shares in the company. (3) The amendment made by this section shall be deemed always to have had effect.
57 Deep gain securities.
(1) In Schedule 11 to the Finance Act 1989 (deep gain securities) paragraph 1 (meaning of deep gain security) shall be amended as follows. (2) The following sub-paragraph shall be inserted after sub-paragraph (3)— (3A) In the case of a security issued on or after 9th June 1989, for the purposes of sub-paragraph (2) above “redemption” does not include any redemption which may be made before maturity only if— (a) the person who issued the security fails to comply with the duties imposed on him by the terms of issue, (b) the person who issued the security becomes unable to pay his debts, or (c) the security was issued by a company and a person gains control of the company in pursuance of the acceptance of an offer made by that person to acquire shares in the company. (3) The amendment made by this section shall be deemed always to have had effect.
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.