Part 5Miscellaneous income
F1CHAPTER 2AOffshore receipts in respect of intangible property
Exemptions
608NExemptions: further provision
(1)
The Treasury may by regulations—
(a)
amend this Chapter for the purpose of creating additional exemptions;
(b)
amend any exemption for the time being in force.
(2)
“Exemption” means a total or partial exemption from the charge under this Chapter.
(3)
The regulations may confer a power to make subordinate legislation or confer a discretion on any person.
(4)
The regulations may make retrospective provision, except insofar as they impose or increase taxation.
(5)
A statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of the House of Commons.