Finance Act 2009

Part 1 Abolition of existing regime

1 In ICTA, omit—

(a) section 765 (prior Treasury consent required for certain transactions involving movement of capital outside Europe),

(b) section 765A (HMRC to be given information about certain transactions involving movement of capital within Europe),

(c) section 766 (offence of failure to comply with section 765), and

(d) section 767 (interpretation).

2 In section 98 of TMA 1970 (special returns etc)—

(a) omit subsection (5),

(b) in the first column of the Table, omit “section 765A(2)(b);”, and

(c) in the second column of the Table, omit “section 765A(2)(a);”.

3 In consequence of the amendments made by paragraphs 1 and 2, omit—

(a) in FA 1988, section 105(6), and

(b) in FA 1990, section 68(1), (2) and (3)(b) to (d).