Part 5: Excise Duties and other taxes Section 48: Aggregates levy - restoration of exemptions Details of the section
Subsections (1) provides that, in effect, the changes included in section 94 of the Finance Act (FA) 2014 (which suspended certain exemptions from the levy from 1 April 2014) are to be treated as never having had effect.
	Subsection (2) repeals sections 94 and 95 of FA 2014 (the latter provided for the reinstatement of exemptions to be set out in secondary legislation).
	Subsection (3) provides for the section to make the amendments to the aggregates levy primary legislation set out in subsections (4) and (5).
	Subsection (4) removes the exemption that had been in place for shale prior to the suspension of exemptions, making it taxable aggregate.
	Subsection (5) introduces a new exempt process for shale which is not used as aggregate for construction purposes. This will entitle a person who has commercially exploited and who has accounted for the levy chargeable on such shale to claim a tax credit for it, when it is used in this new exempt process, under the Aggregates Levy (General) Regulations 2002 (S.I. 2002/761).
	Subsection (6), in conjunction with subsection (1), sets out the commencement provisions. The repeal of sections 94 and 95 FA 2014 come into force on 1 August 2015 and Royal Assent to the Act respectively. The changes made by subsections (3) to (5) are treated as coming into force on 1 April 2014.