SCHEDULES

SCHEDULE 4Approved CSOP schemes

Part 7Approval of schemes

Application for approval

28

(1)

Where—

(a)

a CSOP scheme has been established, and

(b)

the scheme organiser makes an application to F1an officer of Revenue and Customs for approval of the scheme,

F1an officer of Revenue and Customs must approve the scheme if F2the officer F3is satisfied that it meets the requirements of Parts 2 to 6 of this Schedule.

(2)

An application for approval—

(a)

must be in writing, and

(b)

must contain such particulars and be supported by such evidence as F1an officer of Revenue and Customs may require.

(3)

Once F1an officer of Revenue and Customs F4has decided whether or not to approve the scheme, F2the officer must give notice of F5the decision to the scheme organiser.

Appeal against refusal of approval

29

(1)

If F1an officer of Revenue and Customs F6refuses to approve the scheme, the scheme organiser may appeal F7....

(2)

The notice of appeal must be given to F1an officer of Revenue and Customs within 30 days after the date on which notice of F8the officer's decision was given to the scheme organiser.

(3)

F9If the appeal is notified to and allowed by the tribunal, the tribunal may direct F1an officer of Revenue and Customs to approve the scheme with effect from a date specified by the F10tribunal .

(4)

The date so specified must not be earlier than that of the application for approval.

Withdrawal of approval

30

(1)

If any disqualifying event occurs in connection with an approved CSOP scheme, F1an officer of Revenue and Customs may by a notice given to the scheme organiser withdraw the approval with effect from—

(a)

the time at which the disqualifying event occurred, or

(b)

a later time specified by F1an officer of Revenue and Customs in the notice.

(2)

A “disqualifying event” occurs in connection with a scheme if—

(a)

any of the requirements of Parts 2 to 6 of this Schedule ceases to be met;

F11(aa)

an alteration is made in a key feature of the scheme without the approval of F1an officer of Revenue and Customs ; or

(b)

the scheme organiser fails to provide information requested by F1an officer of Revenue and Customs under paragraph 33.

F12(3)

For the purposes of sub-paragraph (2)(aa) F1an officer of Revenue and Customs may not withhold F13... approval unless it appears to F14the officer at the time in question that the scheme as proposed to be altered would not then be approved on an application under paragraph 28.

(4)

For the purposes of that sub-paragraph a “key feature” of a scheme is a provision of the scheme which is necessary in order to meet the requirements of this Schedule.

F15Notice of decision about alteration

31

Where F1an officer of Revenue and Customs —

(a)

F16has been requested to approve any alteration in a CSOP scheme that has been approved, and

(b)

F16has decided whether or not to approve the alteration,

F17the officer must give notice of F18the decision to the scheme organiser.

Appeal against withdrawal of approval etc.

32

(1)

This paragraph applies if a CSOP scheme has been approved by F1an officer of Revenue and Customs and F19the officer —

(a)

F20decides to withdraw approval of the scheme under paragraph 30, or

F21(b)

F20decides to refuse approval under paragraph 30(2)(aa).

(2)

The scheme organiser may appeal against the decision F22....

(3)

The notice of appeal must be given to F1an officer of Revenue and Customs within 30 days after the date on which notice of F23the officer's decision was given to the scheme organiser.