National Grid 2008 Annual Report Download - page 21

BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 48466
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 15
7/5015.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/015/5*
BOWNE INTEGRATED TYPESETTING SYSTEM
CRC: 48466
Name: NATIONAL GRID
Date: 17-JUN-2008 03:10:51.35Operator: BNY99999TPhone: [phone]Site: BOWNE OF NEW YORK
Y59930.SUB, DocName: 20-F, Doc: 1, Page: 15
7/5015.00.00.00Y59930BNY
[A/E] EDGAR 2 *Y59930/015/5*
Table of Contents
other disposition of ADSs unless such holder furnishes a correct taxpayer identification number or is otherwise
exempt.
UK Inheritance Tax
An individual who is domiciled in the US for the purposes of the convention between the US and the UK for the
avoidance of double taxation with respect to estate and gift taxes (the ‘Estate Tax Convention’) and who is not a
national of the UK for the purposes of the Estate Tax Convention will generally not be subject to UK inheritance tax
in respect of the ADSs or ordinary shares on the individual’s death or on a gift of the ADSs or ordinary shares during
the individual’s lifetime, unless the ADSs or ordinary shares are part of the business property of a permanent
establishment of the individual in the UK or pertain to a fixed base in the UK of an individual who performs
independent personal services. Special rules apply to ADSs or ordinary shares held in trust. In the exceptional case
where the ADSs or shares are subject both to UK inheritance tax and to US federal gift or estate tax, the Estate Tax
Convention generally provides for the tax paid in the UK to be credited against tax paid in the US.
Documents on display
National Grid is subject to the filing requirements of the Securities Exchange Act of 1934, as amended. In
accordance with these requirements, we file reports and other information with the Securities and Exchange
Commission. These materials, including this document, may be inspected during normal business hours at our
registered office 1-3 Strand, London WC2N 5EH or at the SEC’s Public Reference Room at 100 F Street, NE,
Washington, DC 20549. For further information about the Public Reference Room, please call the SEC on
1-800-SEC-0330. Some of our filings are also available on the SEC’s website at www.sec.gov.
The information set forth under the headings “Treasury policy” on page 76, “Commodity contracts” on pages 78
to 79, “Note 32 Supplementary information on derivative financial instruments” on page 159, “Note 33 Financial
risk” on pages 160 to 164, and “Note 34 Commodity risk” on pages 165 to 166 of the Company’s Annual Report and
Accounts 2007/08 contained in Exhibit 15.1 is incorporated herein by reference.
Not applicable.
PART II
There has been no material default in the payment of principal, interest, a sinking or purchase fund instalment or
any other material default with respect to the indebtedness for or in respect of monies borrowed or raised by
whatever means of the Company or any of its significant subsidiaries. There have been no arrears in the payment of
dividends on, and no material delinquency with respect to, any class of preferred stock of any significant subsidiary
of the Company required to be reported under this Item 13.
None.
Disclosure controls and procedures
We have carried out an evaluation under the supervision and with the participation of our management,
including the Chief Executive and Finance Director, of the effectiveness of the design and operation of our disclosure
controls and procedures as of 31 March 2008. There are inherent limitations to the effectiveness of any
12
Item 11.
Q
uantitative and
Q
ualitative Disclosures about Market Risk
Item 12.
D
escri
p
tion o
f
Securities Other than E
q
uit
y
Securities
Item 13.
D
e
f
aults, Dividend Arreara
g
es and Delin
q
uencies
Item 14.
M
aterial Modi
f
ications to the Ri
g
hts o
f
Securit
y
Holders and Use o
f
Proceeds
Item 15. Controls and Procedures