(1)The Treasury may by regulations prescribe the circumstances in which the Inland Revenue may grant or withdraw approval of any—
(a)scheme,
(b)kind of scheme, or
(c)agent.
(2)The circumstances, whether relating to the terms of schemes or the qualifications of agents or otherwise, are to be such as the Treasury think fit.
(3)The Treasury may by regulations make provision—
(a)requiring a payer or agent who participates (or has at any time participated) in an approved scheme under this Part—
(i)to comply, within a prescribed period, with any notice which the Inland Revenue give to the payer or agent to make available for their inspection documents or records of a prescribed kind,
(ii)in prescribed circumstances, to furnish to the Inland Revenue prescribed information;
(b)for, and in relation to, appeals to the Special Commissioners against the Inland Revenue’s refusal to approve, or their withdrawal of approval from, any—
(i)scheme,
(ii)kind of scheme, or
(iii)agent;
(c)generally for giving effect to sections 713 and 714.
In this subsection “prescribed” means prescribed by the regulations.