Income Tax Act 2007

341 Terms and conditions of accreditation U.K.

(1) An accreditation under this Chapter must—

(a) be made on—

(i) any terms required by regulations, and

(ii) any other terms the Secretary of State considers appropriate, and

(b) be made conditional on compliance with—

(i) any requirements imposed by regulations, and

(ii) any other requirements the Secretary of State considers appropriate.

(2) The requirements that may be imposed by virtue of subsection (1)(b) include requirements relating to the provision of information.

(3) Regulations may—

(a) make provision for appeals to the Special Commissioners against refusals to grant accreditation under this Chapter,

(b) make provision about the consequences of a failure to comply with any requirement of an accreditation, including—

(i) provision for the withdrawal of the accreditation with effect from the time of the failure or a later time, and

(ii) provision for the imposition of penalties,

(c) make provision for the making of decisions by the Secretary of State as to any matter required to be decided for the purposes of the regulations,

(d) make different provision for different cases or circumstances or in relation to different areas, and

(e) contain incidental, supplemental, consequential and transitional provision and savings.

(4) In this section “regulations” means regulations made by the Treasury.