Office of Public Sector Information

(3) Regulations may make provision only if the Treasury think it necessary or expedient for the purposes of complying with the United Kingdom’s obligations under the Mergers Directive.

(4) In this section—

• “the Mergers Directive” means Council Directive 90/434/EEC,

• “SCE” means an SCE formed in accordance with Council Regulation (EC) 1435/2003 on the Statute for a European Cooperative Society, and

• “SE” means an SE formed in accordance with Council Regulation (EC) 2157/2001 on the Statute for a European Company.

(5) Regulations under this section may—

(a) amend the Taxes Acts,

(b) make incidental or consequential amendments of enactments other than the Taxes Acts,

(c) make provision having retrospective effect,

(d) make provision generally or only for specified cases or circumstances,

(e) make different provision for different cases or circumstances,

(f) make incidental, consequential or transitional provision.

(6) In this section “the Taxes Acts” has the meaning given by section 118(1) of TMA 1970.

111 Excise duties: small consignment relief

(1) The Excise Duties (Small Non-Commercial Consignments) Relief Regulations 1986 (S.I. 1986/938) are revoked.

(2) The revocation made by subsection (1) does not apply in relation to goods consigned before the day on which this Act is passed.

112 Updating references to Standing Committees

(1) In section 1(4)(b) of the Provisional Collection of Taxes Act 1968 (c. 2) (circumstances in which a resolution affecting income tax etc ceases to have effect), for “Standing Committee” substitute “Public Bill Committee”.

(2) In section 50(2)(a) of FA 1973 (corresponding provision for stamp duty), for “Standing Committee” substitute “Public Bill Committee”.

Part 8 Final provisions

113 Interpretation

(1) In this Act—

• “BGDA 1981” means the Betting and Gaming Duties Act 1981 (c. 63),

• “CAA 2001” means the Capital Allowances Act 2001 (c. 2),

• “CEMA 1979” means the Customs and Excise Management Act 1979 (c. 2),

• “CRCA 2005” means the Commissioners for Revenue and Customs Act 2005 (c. 11),

• “ICTA” means the Income and Corporation Taxes Act 1988 (c. 1),

• “IHTA 1984” means the Inheritance Tax Act 1984 (c. 51),

• “ITA 2007” means the Income Tax Act 2007 (c. 3),

• “ITEPA 2003” means the Income Tax (Earnings and Pensions) Act 2003 (c. 1),

• “ITTOIA 2005” means the Income Tax (Trading and Other Income) Act 2005 (c. 5),

• “TCGA 1992” means the Taxation of Chargeable Gains Act 1992 (c. 12),

• “TMA 1970” means the Taxes Management Act 1970 (c. 9),

• “VATA 1994” means the Value Added Tax Act 1994 (c. 23), and

• “VERA 1994” means the Vehicle Excise and Registration Act 1994 (c. 22).

(2) In this Act—

• “FA”, followed by a year, means the Finance Act of that year, and

• “F(No.2)A”, followed by a year, means the Finance (No.2) Act of that year.

114 Repeals

Schedule 27 contains repeals.

115 Short title

This Act may be cited as the Finance Act 2007.