Finance Act 1989

Part I E+W+S+N.I. Administrative Provisions

Interpretation E+W+S+N.I.

1 In this Part of this Schedule “the relevant provisions”means— E+W+S+N.I.

(a) sections [F1 13 to 13A], 231 and 419 to 422 of the Taxes Act 1988, and

(b) Chapter III of Part XI of that Act (as it has effect in relation toaccounting periods beginning before 1st April 1989).

Annotations:

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Amendments (Textual)

F1 Words in Sch. 12 para. 1(a) substituted (27.7.1999 with effect as mentioned in s. 28(6)(7) of the amending Act) by 1999 c. 16, s. 28(4)

Provision of information by company E+W+S+N.I.

2 The inspector may, by notice, require any company which is, or appears tohim to be, a close company to furnish him within such time (not being lessthan 30 days) as may be specified in the notice with such particulars as hethinks necessary for the purposes of the relevant provisions. E+W+S+N.I.

Provision of information by shareholders E+W+S+N.I.

3 (1) If for the purposes of the relevant provisions any person in whose nameany shares are registered is so required by notice by the inspector, he shallstate whether or not he is the beneficial owner of the shares and, if not thebeneficial owner of the shares, shall furnish the name and address of theperson or persons on whose behalf the shares are registered in his name. E+W+S+N.I.

(2) This paragraph shall apply in relation to loan capital as it applies inrelation to shares.

Information about bearer securities E+W+S+N.I.

4 (1) The inspector may, for the purposes of the relevant provisions, by noticerequire— E+W+S+N.I.

(a) any company which appears to him to be a close company to furnish him withparticulars of any bearer securities issued by the company, and the names andaddresses of the persons to whom the securities were issued and the respectiveamounts issued to each person, and

(b) any person to whom bearer securities were issued by the company, or to orthrough whom such securities were subsequently sold or transferred, to furnishhim with such further information as he may require with a view to enablinghim to ascertain the names and addresses of the persons beneficiallyinterested in the securities.

(2) In this paragraph—

• “loan creditor” has the same meaning as in Part XI of theTaxes Act 1988, and

• “securities” includes shares, stock, bonds, debentures anddebenture stock and also any promissory note or other instrument evidencingindebtedness to a loan creditor of the company.