The Value Added Tax (Terminal Markets) (Amendment) Order 1997

Made: 25th July 1997

Laid before the House of Commons: 28th July 1997

Coming into force: 1st September 1997

The Treasury, in exercise of the powers conferred on them by section 50(1), (2) and (3) of the Value Added Tax Act 1994[^f00001] and of all other powers enabling them in that behalf, hereby make the following Order:

1

This Order may be cited as the Value Added Tax (Terminal Markets) (Amendment) Order 1997 and shall come into force on 1st September 1997.

2

Paragraph (2) of article 2 of the Value Added Tax (Terminal Markets) Order 1973[^f00002] shall be amended as follows—

• (a) the word “and” after the words “the London Potato and Futures Market” shall be omitted; and

• (b) after the words “the London Platinum and Palladium Market” there shall be added the words “and the London Securities and Derivatives Exchange Limited (OMLX).”.

Signed

Jim Dowd — Jon Owen Jones — Two of the Lords Commissioners of Her Majesty’s Treasury — 25th July 1997

Explanatory note

(This note is not part of the Order)

This Order amends the Value Added Tax (Terminal Markets) Order 1973 and extends the zero-rating contained in that Order to supplies in the course of dealings on the London Securities and Derivatives Exchange Limited (OMLX), which is now added to the list of terminal markets to which that Order applies.

Footnotes

[^f00001]: 1994 c. 23.

[^f00002]: S.I. 1973/173, amended by S.I. 1975/385, 1980/304, 1981/338, 1981/955, 1984/202, 1985/1046, 1987/806.