SCHEDULES
SCHEDULE 2 Administration and collection of windfall tax
Interpretation
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1
In this Schedule—
“the Board” means the Commissioners of Inland Revenue;
“chargeable company” means a company which, on 2nd July 1997, was benefitting from a windfall from the flotation of an undertaking whose privatisation involved the imposition of economic regulation;
“group” means a parent undertaking (within the meaning of the M1Companies Act 1985 or the M2Companies (Northern Ireland) Order 1986), together with all of its subsidiary undertakings;
“the Management Act” means the M3Taxes Management Act 1970;
“notice” means notice in writing;
“Special Commissioners” has the same meaning as in the Tax Acts.
2
In this Schedule references to the repayment of an amount of windfall tax include references to making an allowance by way of set-off of an amount of windfall tax against any liability.
3
References in this Schedule to a penalty under this Schedule include references to a penalty under a provision of the Management Act as applied by this Schedule.