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(1)Section 70 of the [1975 c. 45.] Finance (No. 2) Act 1975 (certificates securing exemption from the deduction scheme applicable to sub-contractors in the construction industry) shall be amended as follows.
(2)After subsection (4) there shall be inserted the following subsection—
“(4A)Where it appears to the Board that there has been a change in the control of a company holding or applying for a certificate, the Board may make any such direction as is referred to in subsection (4) above.”
(3)In subsection (5) (cancellation of certificates) at the end of paragraph (c) there shall be inserted “or
(d)in the case of a certificate issued to a company, there has been a change in the control of the company and information with respect to that change has not been furnished in accordance with regulations under subsection (7) below”.
(4)In subsection (6) (appeals against refusal of certificate)—
(a)after the words “certificate under this section” there shall be inserted “or the cancellation of such a certificate”; and
(b)after the word “refusal”, in the second place where it occurs, there shall be inserted “or as the case may be, cancellation”.
(5)In subsection (7) after paragraph (c) there shall be inserted the following paragraph—
“(cc)requiring the furnishing of information with respect to changes in the control of a company holding or applying for such a certificate”;
and after paragraph (f) there shall be inserted the following paragraph—
“(ff)with respect to the production, copying and removal of, and the making of extracts from, any records kept by virtue of any such requirement as is referred to in paragraph (f) above and with respect to rights of access to or copies of any such records which are removed; and”.
(6)At the end of the section there shall be added the following subsection—
“(13)In this section “control” has the same meaning as in section 534 of the Taxes Act.”
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