# Finance Act 2009, Paragraph 1


(1) Paragraph 1 of Schedule 7 to FA 1994 (insurance premium tax: records) is amended as follows.
(2) In sub-paragraph (3)—
(a) after “may” insert
“— ”, and
(a)
(b) insert at the end—
“(b) authorise the Commissioners to direct that any such records need only be preserved for a shorter period than that specified in the regulations, and
(c) authorise a direction to be made so as to apply generally or in such cases as the Commissioners may stipulate.”
(3) For sub-paragraphs (4) to (6) substitute—
“(4) A duty under the regulations to preserve records may be discharged—
(a) by preserving them in any form and by any means, or
(b) by preserving the information contained in them in any form and by any means,
subject to any conditions or exceptions specified in writing by the Commissioners.”

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Source: https://www.legislation.gov.uk/ukpga/2009/10/schedule/50/paragraph/1 (the official version)
Page: https://openlegislation.uk/finance-act-2009/schedule-50/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.