Regulation 17 Grounds on which application may be refused
An application may be refused by the Inland Revenue if—
(a)
the conditions for making an application specified in section 90(1) are not met;
(b)
the application does not comply with the requirements of regulation 12 or 14;
(c)
there are tax avoidance arrangements in relation to the transaction in question (see regulation 18);
(d)
the application, or information provided in connection with it, is incorrect; or
(e)
information required to be provided under regulation 14 is not provided within such time as the Inland Revenue reasonably required.