Section 113 Designation of special tax sites

The Treasury may by regulations designate an area in Great Britain as a special area for the purposes of—

An area may only be designated by regulations under this section if, at the time the regulations are made—

An area designated under this section is to be known as F3a “special tax site”.

Regulations under this section must specify the date on which the designation takes effect.

F4For the purposes of this section any reference to a freeport or an investment zone is to an area which is identified as such in a document published by, or with the consent of, the Treasury for the purposes of this section (and not withdrawn).

Any regulations made by the Treasury in reliance on a resolution under section 1 of the Provisional Collection of Taxes Act 1968 and in force immediately before the passing of this Act which make a designation described in subsections (1) and (2) have effect as if validly made under this section.