Finance Act, 1968
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Hydrocarbon oils. |
20.—(1) In this section— | |
“the Act of 1935” means the Finance Act, 1935 ; | ||
“the Act of 1966” means the Finance Act, 1966 . | ||
(2) The duty of customs imposed by section 1 of the Finance (Customs Duties) (No. 4) Act, 1931 , shall, in respect of mineral hydrocarbon light oil chargeable with that duty, be charged, levied and paid as on and from the 24th day of April, 1968, at the rate of 3s. 11·9d. the gallon in lieu of the rate specified in section 10 (2) (b) of the Act of 1966. | ||
(3) The duty of excise imposed by section 1 of the Finance (Miscellaneous Provisions) Act, 1935 , shall, in respect of mineral hydrocarbon light oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 24th day of April, 1968, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of mineral hydrocarbon oil, be charged, levied and paid at the rate of 3s. 10·9d. the gallon in lieu of the rate specified in section 10 (3) (b) of the Act of 1966. | ||
(4) The duty of customs imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty, be charged, levied and paid as on and from the 24th day of April, 1968, at the rate of 3s. 4·65d. the gallon in lieu of the rate specified in section 10 (4) (b) of the Act of 1966. | ||
(5) As on and from the 24th day of April, 1968, the rate of any rebate allowed under section 21 (2) of the Act of 1935 shall— | ||
(a) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was paid at the rate of 3s. 4·65d. the gallon, be 3s. 4·65d. the gallon, and | ||
(b) in respect of hydrocarbon oil on which such rebate is allowable and on which the duty of customs mentioned in subsection (4) of this section was, by virtue of paragraph 6 of the Imposition of Duties (No. 84) (Hydrocarbon Oils) (Customs Duties) Order, 1959 , paid at the rate of 3s. 3·65d. the gallon, be 3s. 3·65d. the gallon, | ||
in lieu of the rate allowable immediately before the 24th day of April, 1968, by virtue of section 10 (5) (b) of the Act of 1966. | ||
(6) The duty of excise imposed by section 21 of the Act of 1935 shall, in respect of hydrocarbon oil chargeable with that duty which is sent out, on or for sale or otherwise, from the premises of the manufacturer thereof on or after the 24th day of April, 1968, or is used by such manufacturer on or after that date for any purpose other than the manufacture or production of hydrocarbon oil, be charged, levied and paid at the rate of 3s. 3·65d. the gallon in lieu of the rate specified in section 10 (6) (b) of the Act of 1966. | ||
(7) As on and from the 24th day of April, 1968, the rate of any rebate allowed under section 21 (4) of the Act of 1935, in respect of hydrocarbon oil on which such rebate is allowable and on which the excise duty mentioned in subsection (6) of this section was paid at the rate of 3s. 3·65d. the gallon, shall be 3s. 3·65d. the gallon in lieu of the rate allowable immediately before the 24th day of April, 1968, by virtue of section 10 (7) (b) of the Act of 1966. | ||
(8) As on and from the 24th day of April, 1968, the rate of any repayment allowed under section 10 (8) of the Finance Act, 1957 , in respect of hydrocarbon oil on which such repayment is allowable and on which either— | ||
(a) the excise duty mentioned in subsection (6) of this section was paid at the rate of 3s. 3·65d. the gallon, or | ||
(b) the customs duty mentioned in subsection (4) of this section was paid at the rate of 3s. 3·65d. the gallon or 3s. 4·65d. the gallon, | ||
shall be 1s. 8d. the gallon in lieu of the rate allowable immediately before the 24th day of April, 1968. |