Section 749 — Corporation Tax Act 2010: Effect of clearance notification under section 748

Effect of clearance notification under section 748 749 1 This section applies if the Commissioners for Her Majesty's Revenue and Customs notify a company under section 748 that they are satisfied that a transaction or transactions, as described in the particulars provided under that section, were or will be such that no counteraction notice ought to be served about the transaction or transactions.

2 No such notice may be served on the company in respect of the transaction or transactions.

3 But the notification does not prevent such a notice being served on the company in respect of transactions including not only the ones to which the notification relates but also others.

4 The notification is void if the particulars and any further information given under section 748 about the transaction or transactions do not fully and accurately disclose all facts and considerations which are material for the purposes of that section.