(1)This section applies to all powers under the Corporation Tax Acts of the Treasury or the Commissioners for Her Majesty's Revenue and Customs to make orders or regulations, other than excluded powers.
(2)All powers under the following are excluded—
(a)ICTA (see instead section 828 of that Act),
(b)TCGA 1992 (see instead section 287 of that Act),
(c)CAA 2001 (see instead section 570B of that Act),
(d)Part 4 of FA 2004 (see instead section 282 of that Act),
(e)CTA 2009 (see instead section 1310 of that Act),
(f)TIOPA 2010 (see instead section [F1499] of that Act), F2...
(g)the following provisions of this Act—
(i)section 204(3) (markets in the United Kingdom on which shares or securities are dealt in), and
(ii)section 1150(1) (meaning of “investment transaction”)[F3, and
(h)Parts 2 and 3 of FA 2012.]
(3)Any power to which this section applies is exercisable by statutory instrument.
(4)Any statutory instrument containing any order or regulations made under a power to which this section applies is subject to annulment in pursuance of a resolution of the House of Commons.
(5)Subsection (4) does not apply in relation to any order or regulations made under—
(a)section 73A of FA 2004 (exemption for designated international organisations), or
(b)either of the following provisions of this Act—
(i)section 1120(2)(e) (designation of international organisations as banks), or
(ii)section 1180(2) (power to make transitional or saving provision in connection with the coming into force of this Act).
(6)Further, subsection (4) does not apply—
(a)if any other Parliamentary procedure is expressly provided to apply in relation to the order or regulations, or
[F4(b)if the order or regulations provide for any provision of the Corporation Tax Acts to come into force or have effect in accordance with the order or regulations.]
(7)Subsection (4) is also subject to any other provision to the contrary.
Textual Amendments
F1Word in s. 1171(2)(f) substituted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 10(4)(c)
F2Word in s. 1171(2)(f) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 230(a)
F3S. 1171(2)(h) and preceding word inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 230(b)
F4S. 1171(6)(b) substituted (with effect in accordance with s. 125(4) of the amending Act) by Finance Act 2015 (c. 11), s. 125(3)
Modifications etc. (not altering text)
C1S. 1171 excluded (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 5(7)
C2S. 1171(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), Sch. 13 para. 6(6)
C3S. 1171(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), s. 29(10)