Paragraph 10

United Kingdom

(1)

F1Schedule 24 to the Finance Act 2007 (which penalises inaccurate documents and is in this paragraph referred to as “the penalty provisions”) shall apply, in accordance with sub-paragraph (2) or sub-paragraph (3) below, in relation to inaccurate information—

(a)

contained in an election; or

(b)

furnished pursuant to a notice under paragraph 2(3) or paragraph 7(3) above; or

(c)

contained in any books, accounts or documents made available as mentioned in paragraph 2(3)(b) or paragraph 7(3)(b) above.

(2)

Where the inaccurate information is provided by a participator, the penalty provisions shall apply—

(a)

as they apply in relation to an incorrect return under paragraph 2 of Schedule 2 to the principal Act; and

F2(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

Where the incorrect information is provided by a person other than a participator, the penalty provisions shall apply—

(a)

as they apply to an incorrect return under paragraph 5 of Schedule 2 to the principal Act; and

(b)

as if that person were the responsible person for an oil field.

Annotations

Textual amendments

F1: Words in Sch. 18 para. 10(1) substituted (1.4.2009) by The Finance Act 2008, Schedule 40 (Appointed Day, Transitional Provisions and Consequential Amendments) Order 2009 (S.I. 2009/571), art. 1(1), Sch. 1 para. 8(1)
F2: Sch. 18 para. 10(2)(b) omitted (1.4.2009) by virtue of The Finance Act 2008, Schedule 40 (Appointed Day, Transitional Provisions and Consequential Amendments) Order 2009 (S.I. 2009/571), art. 1(1), Sch. 1 para. 8(2)

Notes on Schedule 18

Modifications

C1: See Finance Act 1986 (c. 41), s. 109(5) and Sch. 21