Inheritance Tax Act 1984

Yn ddilys o 31/07/1998

[F179A Variation of undertakings.U.K.

(1)An undertaking given under section 78 or 79 above may be varied from time to time by agreement between the Board and the person bound by the undertaking.

(2)Where a Special Commissioner is satisfied that—

(a)the Board have made a proposal for the variation of such an undertaking to the person bound by the undertaking,

(b)that person has failed to agree to the proposed variation within six months after the date on which the proposal was made, and

(c)it is just and reasonable, in all the circumstances, to require the proposed variation to be made,

the Commissioner may direct that the undertaking is to have effect from a date specified by him as if the proposed variation had been agreed to by the person bound by the undertaking.

(3)The date specified by the Special Commissioner must not be less than sixty days after the date of his direction.

(4)A direction under this section shall not take effect if, before the date specified by the Special Commissioner, a variation different from that to which the direction relates is agreed between the Board and the person bound by the undertaking.]

Textual Amendments

F1S. 79A inserted (31.7.1998 with effect as mentioned in Sch. 25 para. 8(4) of the amending Act) by 1998 c. 36, s. 142, Sch. 25 para. 8(2)