Jurisdiction(s):
United Kingdom

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Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

Finance (No 2) Act 2015 (UK): Parliamentary Progress, Committee Stages, Summer Budget Measures and Deferred Provisions (Archived)

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Practice notes

ARCHIVED

This Practice Note is archived and no longer maintained. It presents information on the Finance (No 2) Act 2015 (F(No 2)A 2015), which obtained Royal assent on 18 November 2015, and is preserved here for reference. It is kept for historical interest, mapping the legislation’s route through Parliament and offering a description, with relevant links, of each measure in the Act. The Practice Note is divided into the following five parts:

progress of F(No 2)A 2015
F(No 2)A 2015 Committee stages
published legislation with immediate effect—Summer budget 2015
published legislation with subsequent effect, and
measures deferred from Finance Act 2015

For clarity and to avoid confusion, throughout this Practice Note we refer to the finance bill first published on 15 July 2015 as the 'Summer Finance Bill'.

Progress of F(No 2)A 2015

This section records the progress of F(No 2)A 2015 as it moved through Parliament. The chronology below summarises the key stages.

Date — Bill stage — Bill version

18 Nov 2015 — Royal Assent — Finance (No.2) Act 2015
10 Nov 2015 — House of Lords second reading and all remaining stages
27 Oct 2015 — House of Lords first reading
26 Oct 2015 — House of Commons Report Stage and third...

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