An advance pricing agreement does not have effect in accordance with section 220(2) in relation to any determination of a question if any of conditions A, B and C is met.

Condition A is that a time to which the question relates is after a time as from which an officer has revoked the agreement in accordance with the agreement’s terms.

Condition B is that the question relates to a time after, or in relation to which, there has been a failure by a party to the agreement to comply with a significant provision of the agreement.

Condition C is that the question relates to a matter as respects which a key condition has not been met or is no longer met.

A provision of the agreement is “significant” for the purposes of subsection (3) if compliance with that provision is, under the terms of the agreement, to be a condition of the agreement’s having effect.

Any other condition that, under the terms of the agreement, is to be a condition of the agreement’s having effect is a “key condition” for the purposes of subsection (4).