Section 157 | Savings, transitory provisions and consequential amendments.

(1)Schedule 6 to this Act, which contains transitory provisions and savings, shall have effect, and the repeals made by section 158(1) below have effect subject to that Schedule.

(1A)No letters patent granted or to be granted by the Crown to any person, city, borough or town corporate of any liberty, privilege, or exemption from subsidies, tolls, taxes, assessments or aids, and no statute which grants any salary, annuity or pension to any person free of any taxes, deductions or assessments, shall be construed or taken to exempt any person, city, borough or town corporate, or any inhabitant of the same, from tax chargeable in pursuance of this Act.^F1

(2)For the avoidance of doubt it is hereby declared that this Act has effect subject to those provisions of the Taxes Act and other enactments relating to chargeable gains which are not repealed by this Act; and with a view to preserving the existing effect of such enactments as are mentioned in Schedule 7 to this Act, they shall be amended in accordance with that Schedule.

(3)The provisions of the said Schedule 7, and the other provisions of this Part of this Act, are without prejudice to the provisions of the Interpretation Act 1978 as respects the effect of repeals.

(4)This section and the said Schedules 6 and 7 shall come into force on the passing of this Act.