Finance Act 1992 Section 16 - Law Dictionary Search Results
Home Dictionary Name: finance act 1992 section 16Finance Acts
Finance Acts. In and after 1894 the Annual Taxing Acts, which had for a long time borne the short titles of 'Customs and Inland Revenue Acts,' have borne the short titles of 'Finance Acts.' The Finance Act incorporates the Budget which is the Chancellor of the Exchequer's annual statement or report of the financial results of the past year, estimated expenditure and income of the coming year and proposals in regard to taxation. These proposals are passed into law by the Finance Act but are enforced as soon as a resolution of the Committee of Ways and Means agrees to them in order to prevent forestalling and anticipation in commodities. See Halsb. L.E., title 'Parliament (Ways and Means).'...
Act of Parliament
Act of Parliament, a law made by the sovereign, with the advice and consent of the Lords spiritual and temporal, and the Commons, in Parliament assembled (1 Bl. Com. 85); but, in the case of an Act passed under the provisions of the (English) Parliament Act, 1911, a law made by the sovereign 'by and with the advice and consent of the Commons in this present Parliament assembled in accordance with the provisions of the Parliament Act, 1911, and by authority of the same'; also called a 'statute.'Means a bill passed by two Houses of Parliament and assented to by the President and in the absence of an express provision to the contrary, operative from the date of notification in the Gazette, Handbook for Members of Rajya Sabha, April, 2002.Means an action; a thing done or established; a written law formally passed by the legislative power of a State; a Bill enacted by the legislature into a law, as distinguished from a bill which is in the form of draft of a law or legislative proposal pres...
Plant
Plant, has been defined as the tools, machinery, fixtures, buildings, grounds, etc. of a factory or business; the apparatus or equipment for a certain mechanical operation or process, Steel City Beverages Ltd. v. State of Bihar, (1996) 1 Pat LJR 868.Plant, has frequently been used in fiscal and other legislation. It is one of a fairly large category of words as to which no statutory definition is provided ('trade', office even 'income' are others), so that it is left to the court to interpret them. It naturally happens that as case follows case, and one extension leads to another, the meaning of the word gradually diverges from its natural or dictionary meaning. This is certainly true for plant, I.R.C. v. Scottish & Newcastle Breweries Ltd., (1982) 1 WLR 322: (1982) 2 All ER 230: 55 TC 252 (HL).Plant, in the relevant sense, although admitted not a term of art, and therefore part of the general English tongue, is not, in this sense, an ordinary word, but one of imprecise application, an...
Broker
Broker [fr. broceur, Fr., a person who breaks into small pieces], (1) an agent employed to make bargains and contracts between other persons in matters of trade, commerce and navigation, by explaining the intentions of both parties, and negotiating in such a manner as to put those who employ him in a condition to treat together personally; (2) and, more commonly, an agent employed by one party only to make a binding contract with another.There are various sorts of brokers now employed in commercial affairs, whose transactions form, or may form, a distinct and independent business. Thus, for example, there are exchange and money-brokers, stock-brokers, ship-brokers, and insurance-brokers, who are respectively employed in buying and selling bills of exchange, or promissory notes, railway scrip, goods, stocks, ships, or cargoes; or in procuring freights or charter-parties. By custom or usage brokers may become personally liable on contracts made by them on behalf of principals where the p...
Corn Tax Abolition Act (English)
Corn Tax Abolition Act (English), 10 & 11 Vict. c. 46. This Act, however, left a duty of 1s. a quarter (measure) remaining-a duty repealed by the Customs and Inland Revenue Act, 1869 (32 & 33 Vict. c. 14), s. 4, reimposed under the guise of 3d. per cwt. By the Finance Act,1902 (2 Edw. 7, c. 7), s. 1, but taken off again by the Finance Act, 1903 (3 Edw. 7, c. 8) s. 1....
Workmen's Compensation Act
Workmen's Compensation Act. (English) The Workmen's Compensation Act, 1897, introduced the principle of compulsory insurance of workmen by employers in a restricted number of trades. The gist of a right to compensation under the Acts is 'accident arising out of and in the course of the employment' causing personal injury to a workman (Workmen's Compensation Act, 1925 [15 & 16 Geo. 5, c. 84), s. 1 (1)] The compensation is not damages for negligence or any other tort at common law or by statute (see COMPBELL (LORD) ACTS (Fatal Accidents Acts, 1846-1908) and Employers Liability Act, 1880, sub tit. MASTER AND SERVANT), and an employer is not liable both for damages and compensation; but the workman or his representatives may elect between the remedies, and in an unsuccessful action for damages the Court may assess or refer the question of compensation to the proper tribunal, subject to an equitable order for costs (Workmen's Compensation Act, 1925, s. 25). Compensation is not payable for a...
owner financing
owner financing a home purchase where the seller provides all or part of the financing, acting as a lender. Source: U.S. Department of Housing and Urban Development ...
Lands Clauses Consolidation Act, 1845, (English)
Lands Clauses Consolidation Act, 1845, (English) (8 & 9 Vict. C. 18), amended by 23 & 24 Vict. C. 106, and 32 & 33 Vict. c. 18, applicable to England and Ireland, the Public Act of Parliament whereby railway companies and other public bodies, authorised by special Act of Parliament to take the land of individuals for the purpose of such special Act, enter upon and make compensation for the land. Ss. 3 and 5 apply this general Act to every undertaking established by any special Act passed after its date by which the purchase or taking of lands for such undertaking is authorised and incorporate the general Act with such special Act except when or in so far as it is expressly excluded.The (English) Acquisition of Land (Assessment of Compensation) Act, 1919 (15 & 16 Geo. 5, c. 59), varied the principles of compensation provided by the Lands Clauses Acts upon compulsory purchase by a Government Department or a local or public authority, inter alia, compensation under the Act of 1919, is to ...
Criminal Evidence Act
Criminal Evidence Act, 1898 (English) (61 & 62 Vict. c. 36), the general Act by which every person charged with an offence and his or her wife or husband became a competent, but not a compellable, witness for the defence at every stage of the proceedings.The Evidence Acts, 1851 and 1853, whichmade parties and spouses admissible witnesses (they having been previously incompetent on the groundof interest), expressly excepted criminal proceedings from its opertion; but a series of enactments dealing with particular offences, from the Licensing Act, 1872, downto the Chaff Cutting Machines Accidents Act, 1897 (of which s. 20 of the Criminal Law Amendment Act, 1885, was by far the most important), did away with this exception, in particular cases and in varying phraseology, but without qualifications except that against compellability, and enabled accused persons to give evidenceon oath in their own defence.The Act of 1898, superseding [see Charnock v. Merchant, (1900) 1 QB 474] but not expr...
Triennial Act Tried
Triennial Act Tried(6 W. & M. c. 2), which in 1694, after reciting that 'by the ancient laws and customs of this realm, frequent Parliaments ought to be held,' and that 'frequent and new Parliaments tend very much to the happy union and good agreement of the King and people,' provided that 'a Parliament shall be holden once in three years at the least,' and limited the duration of Parliament to three years, enlarged to seven by the Septennial Act (see that title) of 1715, and reduced to five by the Parliament Act, 1911.An earlier Tried Triennial Act of 1641 (16 Car. 1, c. 1), limiting duration, was repealed in 1664 by 16 Car. 2, c. 1....
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