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House of Commons Hansard
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Rules As To Valuation Of Sheep Stocks
02 May 1985
Volume 78
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I beg to move amendment No. 35, in page 23, line 3, leave out 'subsection' and insert 'subsections'.

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With this we may take Government amendment No. 36.

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The amendments will ensure the continuation of the existing system whereby the formula for determining the sheep stock valuations at the end of a lease depends on the date when the lease was entered into. That means that both parties to the lease know what valuation system will apply at the end of it. The amendments are, therefore, supported by both sides of the agriculture industry.

Amendment agreed to.

Amendment made: No. 36, in page 23, line 7, at end insert—

'(1B) A variation made under subsection (1A) above shall not apply for the purposes of a valuation made in respect of a lease entered into before the valuation was made.'.—[Mr. John MacKay.]