TNAG-0171-FCO40-207-Effect-of-UK-s-economic-measures-on-exports-from-Hong-Kong-1969 — Page 152

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CH. 92

Finance (No. 2) Act 1964

Section 7.

“

SCHEDULE 3

EXPORT REBATES: PROVISIONS FOR DETERMINING EXPORT VALUE

Preliminary

1. (1) The provisions of this Schedule shall have effect for determining the export value of any goods in respect of which an application is made under section 7 of this Act; and in this Schedule the relevant transaction " means the transaction by virtue of which the application is so made.

(2) Except where the relevant transaction is the exportation of goods for use outside the United Kingdom in a trade or business carried on by the applicant or by any company directly or indirectly controlled by him, the export value of the goods shall be taken to be the relevant consideration for the goods determined in accordance with paragraph 2 or 3 of this Schedule, except that, if it appears to the Commissioners that the relevant consideration as so determined is greater than the value of the goods determined in accordance with paragraphs 4 to 6 of this Schedule and the Com- missioners so decide, the export value shall be taken to be the value of the goods determined in accordance with those paragraphs.

The making by the Commissioners of a payment the amount of which is fixed on the footing that the export value of the goods is to be determined by reference to paragraph 2 or 3 or, as the case may be, paragraphs 4 to 6 of this Schedule shall not be taken as con- stituting the making of a final decision by the Commissioners under this sub-paragraph.

(3) Where the relevant transaction is the exportation of goods for use outside the United Kingdom in a trade or business carried on by the applicant or by any company directly or indirectly controlled by him, the export value of the goods shall be taken to be the value of the goods, determined in accordance with para- graphs 4 and 5 of this Schedule.

Relevant consideration : sale

2. (1) Where the relevant transaction is the exportation of goods under a contract of sale or the sale of the goods before or after exportation, the relevant consideration shall, subject to this para- graph, be the price under that contract or sale.

(2) If the terms of the sale or contract of sale are such that the seller bears any of the following, that is, any freight, insurance or other costs, charges or expenses incurred in respect of the goods after they leave the port or place of export, the price shall be reduced for the purposes of this paragraph by an amount reflecting the burden thus assumed by the seller.

In this sub-paragraph the reference to costs, charges or expenses incurred in respect of the goods after they leave the port or place of export does not include, where the goods are sold after being exported, any expenses relating to the sale.

S