Eclipse Film Partners (No. 35) LLP v Revenue and Customs Commissioners,  BTC 503,  UKUT 0639 (TCC), aff'd  EWCA Civ 95
 The law regarding the approach to construction of a consolidating statute was explained by the House of Lords in Farrell v Alexander  UKHL 5,  AC 59 and is well settled. When construing a consolidating statute, which is intended to operate as a coherent code or scheme governing some subject matter, the principal inference as to the intention of Parliament is that it should be construed as a single integrated body of law, without any need for reference back to the same provisions as they appeared in earlier legislative versions... . An important part of the objective of a consolidating statute or a project like the Tax Law Rewrite Project is to gather disparate provisions into a single, easily accessible code. That objective would be undermined if, in order to interpret the consolidating legislation, there was a constant need to refer back to the previous disparate provisions and construe them… .
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|Tax Topics - Income Tax Act - Section 248 - Subsection 248(1) - Business||speculative element of trade||213|
|Tax Topics - Statutory Interpretation - Hansard, explanatory notes, etc.||Explanatory Notes more valuable than white papers||222|