Section 287 | The Code Of Practice On Taxation For Banks: Operation & Breaches Of The Code | Finance Act 2014 C26

287 The Code of Practice on Taxation for Banks: operation & breaches of the Code

Finance Act 2014 (2014 c 26) | Legislation

287 The Code of Practice on Taxation for Banks: operation & breaches of the Code

(1) The Commissioners must—

(a) publish a protocol, to be called “the Governance Protocol”, setting out how the Commissioners are going to operate the Code and section 285(2), and

(b) follow the Governance Protocol when operating the Code and section 285(2).

(2) The Governance Protocol must require the Commissioners, before determining for the purposes of section 285(2) whether a group or entity has breached the Code at a time during a reporting period, to commission a person (an “independent reviewer”) who is independent of the Commissioners and the group or entity to report on—

(a) whether the group or entity has breached the Code, and

(b) whether the group or entity should be named in a report under section 285 were the Commissioners to determine that the group or entity has breached the Code.

(3) The independent reviewer—

(a) must give the group or entity a reasonable opportunity to make representations about the matters being considered by the independent reviewer,

(b) subject to subsection (8), must have regard to the group or entity's representations and may have regard to any other matter which the independent