Paragraph 2 F1

United Kingdom

(F21)

The Commissioners shall not give a direction under this Schedule by reference to a relevant event if they are satisfied that—

(a)

the change in the treatment of the F3person, or

(b)

the transaction in question,

had as its main purpose or, as the case may be, as each of its main purposes a genuine commercial purpose unconnected with the fulfilment of the condition specified in paragraph 1(3) above.

(F42)

This paragraph shall not apply where the relevant event is the termination of a F5person's treatment as a member of a group by a notice under section 43C(1) or (3).

Annotations

Textual amendments

F1: Sch. 9A inserted (29.4.1996) by 1996 c. 8, s. 31, Sch. 4
F2: Sch. 9A para. 2(1) renumbered (27.7.1999) by 1999 c. 16, s. 16, Sch. 2 para. 5(2)
F3: Word in Sch. 9A para. 2(1)(a) substituted (1.11.2019) by Finance Act 2019 (c. 1), s. 53(2), Sch. 18 para. 14(3)(a); S.I. 2019/1348, reg. 2
F4: Sch. 9A para. 2(2) inserted (27.7.1999) by 1999 c. 16, s. 16, Sch. 2 para. 5(2)
F5: Word in Sch. 9A para. 2(2) substituted (1.11.2019) by Finance Act 2019 (c. 1), s. 53(2), Sch. 18 para. 14(3)(b); S.I. 2019/1348, reg. 2