6(1)Sub-paragraph (2) applies where—U.K.
(a)a UK corporate parent is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”), and
(b)one or more other UK corporate parents are controlled by the foreign parent.
(2)Two or more of the UK corporate parents controlled by the foreign parent may enter into an arrangement under which one of their number (“the nominated reporting body”) is nominated to exercise, on behalf of all of them, the functions conferred under this Schedule on a reporting body.
(3)A party to an arrangement under this paragraph may withdraw from the arrangement.
(4)The Commissioners may by regulations make provision about entering into and withdrawing from an arrangement under this paragraph.
(5)Regulations under sub-paragraph (4) may, in particular, include provision—
(a)as to the form and manner in which bodies may enter into, or a body may withdraw from, an arrangement,
(b)requiring a person to give information to HMRC in connection with entering into or withdrawing from an arrangement, and
(c)as to circumstances in which a body is to be treated as having withdrawn from an arrangement.