xmlns:atom="http://www.w3.org/2005/Atom"
Section 50
1Chapter 4 of Part 6 of ITTOIA 2005 (SAYE interest) is amended as follows.
2(1)Section 705 (certification of arrangements) is amended as follows.
(2)In subsections (1) and (2), for “Treasury” (in each place) substitute “Commissioners”.
(3)After subsection (4) insert—
“(5)In this Chapter “the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs.”
3In section 706(1) and (2) (withdrawal and variation of certifications etc), for “Treasury” substitute “Commissioners”.
4In section 707(1) (authorisation of providers), for “Treasury” substitute “Commissioners”.
5(1)Section 708 (withdrawal and variation of authorisations) is amended as follows.
(2)In subsections (1) and (2), for “Treasury” substitute “Commissioners”.
(3)In subsection (4), for “Treasury of its” substitute “Commissioners of their”.
6In the following provisions omit “by post”—
(a)section 706(2)(b) (notification of withdrawal and variation of certifications etc), and
(b)section 708(2)(b) (notification of withdrawal and variation of authorisations).
7In section 706(2)(b) (notification of withdrawal and variation of certifications etc), for “28 days” substitute “15 days”.
8In section 706(3) (transitional provision for withdrawals and variations of certifications), for the words from “the operation of” to the end substitute—
“(a)the operation of the arrangement concerned before that date,
(b)contracts made under that arrangement before that date, or
(c)where the notice so provides, contracts which are of a description specified in the notice and are made under that arrangement after that date.”