Finance Act 2009 (c. 10)

SCHEDULES

SCHEDULE 22 U.K. Offshore funds

Part 1 U.K. Meaning of “offshore fund”

FA 2008 U.K.

5 U.K. After that section insert—

“42A Regulations: procedure

(1) Regulations under this group of sections are to be made by statutory instrument.

(2) The following regulations may not be made unless a draft of the instrument containing them has been laid before, and approved by a resolution of, the House of Commons—

(a) regulations under section 40B(6),

(b) regulations under section 40G(1), and

(c) the first regulations under section 41(1).

(3) A statutory instrument containing any other regulations under this group of sections is subject to annulment in pursuance of a resolution of the House of Commons, unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.”