Finance Act 2015

Penalties for errors

7 (1) Paragraph 21A (classification of territories) is amended as follows.

(2) Before sub-paragraph (1) insert—

“(A1) A category 0 territory is a territory designated as a category 0 territory by order made by the Treasury.”

(3) For sub-paragraph (2) substitute—

“(2) A category 2 territory is a territory that is not any of the following—

(a) a category 0 territory;

(b) a category 1 territory;

(c) a category 3 territory.”

(4) For sub-paragraph (7) substitute—

“(7) An instrument containing (whether alone or with other provisions) the first order to be made under sub-paragraph (A1) may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, the House of Commons.”