Income Tax (Trading and Other Income) Act 2005 (c. 5)

Part 6 U.K. Exempt income

Chapter 4 U.K. SAYE interest

706 Withdrawal and variation of certifications and connected requirements U.K.

(1) The Treasury may—

(a) withdraw the requirements specified under section 705(1)(b) for any description of arrangements and any certification made by reference to those requirements, or

(b) vary those requirements and withdraw any certification made by reference to them.

(2) The withdrawal, or variation and withdrawal, is only effective if the Treasury—

(a) specify the date on which it is to take effect, and

(b) give notice of it by post at least 28 days before that date to the provider authorised under section 707 to enter into contracts under the arrangement concerned.

(3) The withdrawal, or variation and withdrawal, does not affect the operation of the arrangement concerned before that date or contracts made under that arrangement before it.