Section 244A — Finance Act 2014: Monitoring notices: transferees

Monitoring notices: transferees 244A 1 This section applies if an authorised officer becomes aware at any time that a person to whom a monitoring notice has been given ( “ P ” ) has made a relevant transfer within the meaning of paragraph 5 of Schedule 33A (promotion structures) to another person ( “D”).

2 The authorised officer may give D a monitoring notice.

3 Where a person is given a monitoring notice under this section, but considers that they were not a person to whom a relevant transfer was made (such that this section applies), they may make representations to that effect to the authorised officer.

4 If (in light of those representations) the authorised officer considers that this section did not apply at the time the monitoring notice was given, the officer must withdraw the notice.

5 Subsections (2) to (4) of section 244 (monitoring notice: content and issuing) apply in relation to a monitoring notice given under subsection (2) of this section as they apply to a monitoring notice given under subsection (1) of that section, but as if the reference in subsection (3)(a) of that section to “the person” were a reference to P.