Chwilio Deddfwriaeth

Finance Act 2004

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Section 237D

 Help about opening options

Alternative versions:

Status:

Point in time view as at 06/04/2020.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 2004, Section 237D. Help about Changes to Legislation

[F1237DDischarge of scheme administrator's liabilityU.K.

(1)If the scheme administrator of a pension scheme is liable under section 237B, the scheme administrator may apply to an officer of Revenue and Customs for the discharge of the scheme administrator's liability on either of the following grounds.

(2)The grounds are—

(a)that paying the amount to which the scheme administrator is liable would be to the substantial detriment of the interests of the members of the pension scheme, and

(b)that in all the circumstances of the case it would not be just and reasonable for the scheme administrator to be liable to that amount.

(3)On receiving an application under subsection (1), an officer of Revenue and Customs must decide whether to discharge the scheme administrator's liability.

(4)An officer of Revenue and Customs must notify the scheme administrator of the decision on the application.

(5)The discharge of the scheme administrator's liability does not affect the liability of any other person in respect of the same amount.

(6)The Treasury may by regulations amend this section so as to alter the grounds on which an application under subsection (1) may be made.

(7)Regulations made by the Commissioners for Her Majesty's Revenue and Customs may make provision supplementing this section; and the regulations may in particular make provision as to the time limits for the making of an application.]

Textual Amendments

F1Ss. 237A-237F inserted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 15

Yn ôl i’r brig

Options/Cymorth

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?