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Applications accepted by the Inland Revenue having no effect
28. For the purposes of Part 4 of the Finance Act 2003 and these Regulations, an application which has been accepted by the Inland Revenue—
(a)shall have no effect if—
(i)it contains false or misleading information; or
(ii)any facts or circumstances relevant to it are not disclosed to the Inland Revenue; and
(b)shall cease to have any effect if the facts and circumstances relevant to it materially change.
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