# Finance Act 2000, Paragraph 89


(1) A company (“the applicant”) may, before issuing any shares, make an application to the Board for an advance clearance notice in respect of that issue.
(2) An advance clearance notice is a notice issued by the Board in respect of an issue of shares which states that, on the basis of the particulars, declarations and undertakings provided by the applicant, the Board are satisfied that, at the time the shares are issued, the requirements of Parts III and IV of this Schedule will be met (or, in the case of any requirement that cannot be met until a future date, will be met for the time being) in relation to the shares.
(3) For the purposes of determining whether they are satisfied as mentioned in sub-paragraph (2) the Inland Revenue shall assume that the shares included in the issue of shares are “the relevant shares”.
(4) An application under this paragraph must—
(a) contain the particulars, declarations and undertakings required by the Board, and
(b) disclose all facts and circumstances material for the decision of the Board.
(5) In this Part references to an “application" are to an application under this paragraph.

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Source: https://www.legislation.gov.uk/ukpga/2000/17/schedule/15/paragraph/89 (the official version)
Page: https://openlegislation.uk/finance-act-2000/schedule-15/paragraph-89
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.