Part IIINCOME TAX, CORPORATION TAX AND CAPITAL GAINS TAX
I1 CHAPTER I GENERAL
Miscellaneous
75 Audit powers in relation to non-residents.
The following section shall be inserted after section 482 of the Taxes Act 1988—
482A Audit powers in relation to non-residents.
1
The Board may make regulations with respect to the exclusion, in relation to investments of persons who are not ordinarily resident in the United Kingdom, of powers conferred by regulations made by virtue of section 477A(2)(a) or 482(11)(aa) ( “audit powers”).
2
Regulations under subsection (1) above may in particular—
a
make provision for the exclusion of audit powers in the case of any building society or deposit-taker to be dependent on whether the society or deposit-taker is approved by the Board for the purposes of the regulations and on the scope of that approval;
b
make provision with respect to the approval of building societies and deposit-takers by the Board for the purposes of the regulations;
c
make provision with respect to, and with respect to alteration of, the scope of approval by the Board for the purposes of the regulations;
d
make provision with respect to the termination of approval by the Board for the purposes of the regulations; and
e
make provision with respect to appeals against decisions of the Board with respect to approval for the purposes of the regulations, including decisions with respect to the scope of such approval.
3
Regulations under subsection (1) above may—
a
make different provision for different cases; and
b
contain such supplementary, incidental, consequential or transitional provision as appears to the Board to be appropriate.
4
In this section “deposit-taker has the meaning given by section 481(2).
Chapter I partly in force at 4.5.1988 due to retrospective effect of s. 74(5)