Finance Act 1983
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
44 Rates of interest for government lending.
(1) Section 5 of the National Loans Act 1968 (which, as set out in section 153 of the Finance Act 1982, provides for the determination of rates of interest for government lending) shall be amended in accordance with this section. (2) In subsection (5) (withdrawal of determination or approval of rate of interest which no longer fulfils the requirements of the section)— (a) for the words from “approved for” to “not yet made” there shall be substituted the words “ approved for a class of loans ”; and (b) for the words from “withdrawn” to the end of the subsection there shall be substituted the words “ withdrawn at the earliest convenient time, and, subject to subsection (5A) below, from that or such later time as may be convenient another rate determined or approved in accordance with subsection (3) or, as the case may be, subsection (4) above shall come into force for further loans of that class ”. (3) After subsection (5) there shall be inserted the following subsections:— (5A) If, in the case of a loan of any class,— (a) an undertaking was given to the person to whom the loan was to be made that the rate of interest which would apply to that loan would be that which, at a time specified in or determined in accordance with the undertaking, was or would be in force for loans of that class, and (b) before the loan was in fact made, the determination or approval of that rate of interest was withdrawn by virtue of subsection (5) above or otherwise ceased to be effective, the rate of interest which applies to that loan shall be that which was in force for loans of that class at the time specified in, or as the case may be determined in accordance with, the undertaking. (5B) In subsection (5A) above “undertaking” means an undertaking given by the person by whom the loan in question was to be made and, where that person is not the Treasury, given by that person with the consent of the Treasury.
44 Rates of interest for government lending.
(1) Section 5 of the National Loans Act 1968 (which, as set out in section 153 of the Finance Act 1982, provides for the determination of rates of interest for government lending) shall be amended in accordance with this section. (2) In subsection (5) (withdrawal of determination or approval of rate of interest which no longer fulfils the requirements of the section)— (a) for the words from “approved for” to “not yet made” there shall be substituted the words “ approved for a class of loans ”; and (b) for the words from “withdrawn” to the end of the subsection there shall be substituted the words “ withdrawn at the earliest convenient time, and, subject to subsection (5A) below, from that or such later time as may be convenient another rate determined or approved in accordance with subsection (3) or, as the case may be, subsection (4) above shall come into force for further loans of that class ”. (3) After subsection (5) there shall be inserted the following subsections:— (5A) If, in the case of a loan of any class,— (a) an undertaking was given to the person to whom the loan was to be made that the rate of interest which would apply to that loan would be that which, at a time specified in or determined in accordance with the undertaking, was or would be in force for loans of that class, and (b) before the loan was in fact made, the determination or approval of that rate of interest was withdrawn by virtue of subsection (5) above or otherwise ceased to be effective, the rate of interest which applies to that loan shall be that which was in force for loans of that class at the time specified in, or as the case may be determined in accordance with, the undertaking. (5B) In subsection (5A) above “undertaking” means an undertaking given by the person by whom the loan in question was to be made and, where that person is not the Treasury, given by that person with the consent of the Treasury.
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.