4(1)This paragraph applies to a scheme or arrangement if under the scheme or arrangement—
(a)a step is taken by a person who is party to, or concerned in, the scheme or arrangement, or
(b)a step that could have been taken by such a person is not taken,
and that action or that failure to act has the effect of increasing a claim made by a person who is party to, or concerned in, the scheme or arrangement for an allowance by way of credit in accordance with this Part or of giving rise to such a claim.
(2)The steps mentioned in sub-paragraph (1) are steps that may be made—
(a)under the law of any territory, or
(b)under arrangements made in relation to any territory.
(3)The steps mentioned in sub-paragraph (1) include—
(a)claiming, or otherwise securing the benefit of, reliefs, deductions, reductions or allowances;
(b)making elections for tax purposes.