Section 341 — Income Tax Act 2007: Terms and conditions of accreditation

Terms and conditions of accreditation 341 1 An accreditation under this Chapter must—

a be made on—

i any terms required by regulations, and ii any other terms the Secretary of State considers appropriate, and b be made conditional on compliance with—

i any requirements imposed by regulations, and ii any other requirements the Secretary of State considers appropriate.

2 The requirements that may be imposed by virtue of subsection (1)(b) include requirements relating to the provision of information.

3 Regulations may—

a make provision for appeals to the tribunal against refusals to grant accreditation under this Chapter, b make provision about the consequences of a failure to comply with any requirement of an accreditation, including—

i provision for the withdrawal of the accreditation with effect from the time of the failure or a later time, and ii provision for the imposition of penalties, c make provision for the making of decisions by the Secretary of State as to any matter required to be decided for the purposes of the regulations, d make different provision for different cases or circumstances or in relation to different areas, and e contain incidental, supplemental, consequential and transitional provision and savings. 3A Regulations under this section may include provision for the purposes of Part 7 of CTA 2010 in addition to provision made for the purposes of this Part.

4 In this section “ regulations ” means regulations made by the Treasury.