- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (06/04/2021)
- Gwreiddiol (Fel y'i Deddfwyd)
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56(1)This paragraph applies to the determination of the market value of shares for the purposes of the EMI code.U.K.
(2)Unless—
(a)it is agreed between the employer company and [F1an officer of Revenue and Customs], or
(b)a reference is made under sub-paragraph (4),
the market value of shares is to be determined by [F1an officer of Revenue and Customs].
(3)Where the market value of shares on any date needs to be determined for the purposes of the EMI code, [F1an officer of Revenue and Customs] and the employer company may agree that it is to be determined by reference to a date or dates, or to the average of the values on a number of dates, stated in the agreement.
(4)At any time before notice of [F1an officer of Revenue and Customs] determination has been given to the employer company, [F2the company may apply to the tribunal for the question of the market value of the shares to be determined].
F3(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
[F4(6)Any such application is to be subject to the relevant provisions of Part 5 of TMA 1970 (see, in particular, section 48(2)(b) of that Act).]
Textual Amendments
F1Words in Act substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 102(1); S.I. 2005/1126, art. 2(2)(h)
F2Words in Sch. 5 para. 56(4) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 355(2)
F3Sch. 5 para. 56(5) omitted (1.4.2009) by virtue of The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 355(3)
F4Sch. 5 para. 56(6) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 355(4)
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