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Paragraph 3

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

An agreement that payment to a promoter of the scheme be contingent in whole or in part on the tax advantage accruing from the operation of the scheme.

(2)

A person is a promoter of a scheme if, in the course of a trade, profession or business which involves the provision to other persons of services relating to taxation—

(a)

he is to any extent responsible for the design of the proposed arrangements; or

(b)

he invites persons to enter into contracts for the implementation of the proposed arrangements.