25(1)The Secretary of State may by regulations amend this Schedule for a permitted purpose.U.K.
(2)The permitted purposes are—
(a)to replace any or all references in this Schedule to a percentage figure with references to some other (larger or smaller) percentage figure;
(b)to change or supplement the conditions in paragraph 6 so as to include circumstances (for example, circumstances involving more complex structures) that give individuals a level of control over entity Y broadly similar to the level of control given by the other conditions in that paragraph;
(c)in consequence of any provision made by virtue of paragraph (b), to change or supplement paragraph 9 so that the circumstances specified in that paragraph in which a person is to be regarded as holding an interest in an overseas entity correspond to any of the conditions in paragraph 6, or would do so but for the extent of the interest.
(3)Regulations under this paragraph are subject to the affirmative resolution procedure.
Commencement Information
I1Sch. 2 para. 25 not in force at Royal Assent, see s. 69
I2Sch. 2 para. 25 in force at 1.8.2022 (except in so far as relating to ss. 7–11 of the Act) by S.I. 2022/876, reg. 3(b)