Supplementary U.K.

Anti-avoidance U.K.

23.  If—

(a) [F1 a reporting financial institution, UK representative, specified financial institution or specified relevant person] enters into any arrangements, and

(b) the main purpose, or one of the main purposes, of [F2 the institution or representative] in entering into the arrangements is to avoid any obligation under these Regulations,

these Regulations are to have effect as if the arrangements had not been entered into.

Textual Amendments

F1 Words in reg. 23 substituted (17.5.2017) by The International Tax Compliance (Amendment) Regulations 2017 (S.I. 2017/598), regs. 1(1), 18(a)

F2 Words in reg. 23 substituted (17.5.2017) by The International Tax Compliance (Amendment) Regulations 2017 (S.I. 2017/598), regs. 1(1), 18(b)