[237A Duty to give conduct notice: defeat of promoted arrangements]
Finance Act 2014 (2014 c 26) | Legislation

[237A  Duty to give conduct notice: defeat of promoted arrangements]

[(1)     If an authorised officer becomes aware at any time (“the relevant time”) that a person (“P”) who is carrying on a business as a promoter meets any of the conditions in subsections (11) to (13), the officer must determine whether or not P's meeting of that condition should be regarded as significant in view of the purposes of this Part.

But see also subsection (14).

(2)     An authorised officer must make the determination set out in subsection (3) if the officer becomes aware at any time (“the section 237A(2) relevant time”) that—

(a)     a person meets a condition in subsection (11), (12) or (13), and

(b)     at the section 237A(2) relevant time another person (“P”), who is carrying on a business as a promoter, meets that condition by virtue of Part 4 of Schedule 34A (meeting the section 237A conditions: bodies corporate and partnerships).

(3)     The authorised officer must determine whether or not—

(a)     . . .

(b)     P's meeting of the condition as mentioned in subsection (2)(b),

should be regarded as significant in view of the purposes of this Part.

[(3A)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The Money Laundering Reporting Officer (MLRO)

The Money Laundering Reporting Officer (MLRO)OverviewThe requirements to have robust systems and controls in a regulated firm to prevent money laundering originate from:•the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (as

LEXISNEXIS

The tort of deceit

The tort of deceitDeceit—what is it?A deceit occurs when a misrepresentation is made with the express intention of defrauding a party, subsequently causing loss to that party.The elements of a claim in deceit are:•a clear false representation of fact or law•fraud by the maker, in the sense that they

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business