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
As published
47 Equalisation reserves for Lloyd's corporate and partnership members
(1) The Treasury may by regulations provide for section 444BA of ICTA (equalisation reserves) to have effect, in such cases and subject to such modifications as may be specified in the regulations, in relation to equivalent Lloyd's reserves as it has effect in relation to equalisation reserves maintained by virtue of equalisation reserves rules.
(2) For this purpose a reserve is an equivalent Lloyd's reserve if it is maintained by a corporate or partnership member for purposes, or in a manner, such as to make it equivalent to an equalisation reserve maintained by virtue of equalisation reserves rules.
(3) The regulations may include—
(a) provision having effect in relation to periods before they are made, and
(b) supplementary, incidental, consequential and transitional provision.
(4) In this section—
“corporate member” means a body corporate which is a member of Lloyd's;
“equalisation reserves rules” has the same meaning as in section 444BA of ICTA (see subsection (11) of that section);
“member” means underwriting member;
“partnership member” means a limited partnership formed under the law of Scotland, or a limited liability partnership formed under the law of any part of the United Kingdom, which is a member of Lloyd's.
Your change, as a redline
47 Equalisation reserves for Lloyd's corporate and partnership members
(1) The Treasury may by regulations provide for section 444BA of ICTA (equalisation reserves) to have effect, in such cases and subject to such modifications as may be specified in the regulations, in relation to equivalent Lloyd's reserves as it has effect in relation to equalisation reserves maintained by virtue of equalisation reserves rules.
(2) For this purpose a reserve is an equivalent Lloyd's reserve if it is maintained by a corporate or partnership member for purposes, or in a manner, such as to make it equivalent to an equalisation reserve maintained by virtue of equalisation reserves rules.
(3) The regulations may include—
(a) provision having effect in relation to periods before they are made, and
(b) supplementary, incidental, consequential and transitional provision.
(4) In this section—
“corporate member” means a body corporate which is a member of Lloyd's;
“equalisation reserves rules” has the same meaning as in section 444BA of ICTA (see subsection (11) of that section);
“member” means underwriting member;
“partnership member” means a limited partnership formed under the law of Scotland, or a limited liability partnership formed under the law of any part of the United Kingdom, which is a member of Lloyd's.
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.
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.