Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013

120 Section 2 amended (Interpretation)

(1)

In section 2(1), insert, in appropriate alphabetical order:

prize competition means a scheme or competition—

(a)

for which direct or indirect consideration is paid to a person for conducting the scheme or competition; and

(b)

that distributes prizes of money or in which participants seek to win money; and

(c)

for which the result is determined—

(i)

by the performance of the participant of an activity of a kind that may be performed more readily by a participant possessing or exercising some knowledge or skill; or

(ii)

partly by chance and partly by the performance of an activity as described in subparagraph (i), whether or not it may also be performed successfully by chance:

(2)

In section 2(1), insert, in appropriate alphabetical order:

Railways assets and liabilities, Railways assets, and Railways liabilities have the same meaning as in section EZ 68 of the Income Tax Act 2007

(3)

In section 2(1), insert, in appropriate alphabetical order:

Railways vesting has the same meaning as in section EZ 68 of the Income Tax Act 2007