Income Tax (States Trading Companies and Public Servants Pension Scheme) (Guernsey) Law, 2001

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PROJET DE LOI

ENTITLED

The Income Tax (States Trading Companies and Public Servants' Pension Scheme) (Guernsey) Law, 2001

THE STATES, in pursuance of their resolution of the 16^th day of March, 2000[a], have approved the following provisions which, subject to the Sanction of Her Most Excellent Majesty in Council, shall have force of law in the islands of Guernsey and Herm.

Application of Income Tax Law to States trading companies and Public Servants' Pension Scheme.

1. (1) For section 40(l) of the Income Tax (Guernsey) Law, 1975, as amended[b], substitute the following paragraph -

"(l) the income of -

(i) any fund or trading department administered by or on behalf of the States, but excluding the income of a States trading company;

(ii) the Public Servants' Pension Scheme; or

(iii) any parish or parochial institution;".

(2) After section 150(4) of the Income Tax (Guernsey) Law, 1975, as amended[c], insert the following subsection -

"(5) The Public Servants' Pension Scheme shall be deemed

to be an approved scheme for the purposes of this Part of this Law.".

(3) In section 209(1) of the Income Tax (Guernsey) Law, 1975, as amended -

(a) after the definition of the expression "personal representative" insert the following definition-

""Public Servants' Pension Scheme" means the scheme of that name established and maintained under the States of Guernsey (Public Servants) (Pensions and other Benefits) Rules, 1972 to 1999, as from time to time amended, re-enacted (with or without modification), extended or applied;";

(b) after the definition of the expression "States" insert the following definition-

""States trading company" means a company for the time being designated by Ordinance under section 1 of the States Trading Companies (Bailiwick of Guernsey) Law, 2001;".

Citation.

2. This Law may be cited as the Income Tax (States Trading Companies and Public Servants' Pension Scheme) (Guernsey) Law, 2001.

Commencement.

3. This Law shall come into force on the day appointed by Ordinance of the States; and different days may be appointed for different provisions.

[a]	Article III of Billet d'État No. VIII of 2000.
[b]	Ordres en Conseil Vol. XXV, p. 124; Vol. XXVI, pp. 146, 200 and 292; Vol. XXVII, pp. 84, 118, 200, 333 and 565; Vol. XXVIII, pp. 184, 278, 353 and 409; Vol. XXIX, p. 214; Vol. XXXI, pp. 406 and 473; Vol. XXXII, p. 307; No. IV of 1991; No. VI of 1992; Nos. IV and VIII of 1993; No. XXV of 1994; Nos. III and VII of 1995; No. V of 1996; Nos. IV and XXII of 1997; No. II of 1999; and No. IV of 2000.
[c]	Subsection (4) was inserted by No. IV of 1991.