SCHEDULES

SCHEDULE 41Companies in administration

Responsibility of officers of company in administration

2

1

Section 108 of the Taxes Management Act 1970 (c. 9) (responsibility of company officers) is amended as follows.

2

In subsection (3)(a)—

a

after first “liquidator” insert “ or administrator ”, and

b

after second “liquidator” insert “ or, as the case may be, administrator ”.

3

After subsection (3) insert—

4

For the purposes of subsection (3)(a), where two or more persons are appointed to act jointly or concurrently as the administrator of a company, the proper officer is—

a

such one of them as is specified in a notice given to the Board by those persons for the purposes of this section, or

b

where the Board is not so notified, such one or more of those persons as the Board may designate as the proper officer for those purposes.