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5.—(1) Where the scheme manager of a former QROPS is required to provide information under regulation 3(2), [F2(2B) or (2C),] 3A(1) [F3, 3AA(1)(a), 3AC(2), 3AD(2)] [F4, 3AE(6), 3AG] or 3C(1), Part 7 of Schedule 36 to the Finance Act 2008 (penalties) is to apply, with the modifications specified in paragraph (2), to the scheme manager as if—
(a)that information had been required to be provided by an information notice given to the scheme manager under that Schedule; and
(b)the information notice had specified that the information had to be provided by the time required under regulation 3, 3A [F5, 3C, 3AA, 3AC or 3AD], as the case may be.
(2) The modifications of Part 7 of Schedule 36 to the Finance Act 2008 mentioned in paragraph (1) are as follows—
(a)in paragraph 39, sub-paragraphs (1)(b) and (3) are omitted;
(b)in paragraph 40, “or obstruction” is omitted wherever it appears;
(c)in paragraph 40A(4)(b), “take reasonable steps to” is omitted and “within 30 days beginning with the date on which the inaccuracy becomes apparent” is inserted at the end;
(d)paragraphs 42 and 43 are omitted;
(e)in paragraph 45, in sub-paragraph (1) “or the obstruction of an officer of Revenue and Customs” is omitted, in sub-paragraph (2)(b) “or obstruction” is omitted and in sub-paragraph (2)(c) “or obstruction” and “, or the obstruction stops,” are omitted;
(f)in paragraph 46, in sub-paragraph (2) “, subject to sub-paragraph (3)” is omitted and sub-paragraph (3) is omitted;
(g)in paragraph 49, in sub-paragraph (1)(a) and (b) “90 days” is substituted for “30 days”;
(h)in paragraph 49A, in sub-paragraph (1)(a) “an information notice” is substituted for “a notice under paragraph 5” and sub-paragraph (6) is omitted;
(i)paragraphs 50 and 51 are omitted.]
Textual Amendments
F1Reg. 5 inserted (14.10.2013) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), regs. 1, 21
F2Words in reg. 5(1) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(14)(a) (with Sch. 4 para. 22(15))
F3Words in reg. 5(1) inserted (6.4.2015) by The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2015 (S.I. 2015/673), regs. 1, 6(a)
F4Words in reg. 5(1) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(14)(b) (with Sch. 4 para. 22(15))
F5Words in reg. 5(1)(b) inserted (6.4.2015) by The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2015 (S.I. 2015/673), regs. 1, 6(b)
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